We've all heard so much about what the future holds for real estate in 2007. We hear it on the evening news, in various publications and on the radio. It is inevitable that homes and land will always sell but it is true we have been facing several challenges including our unusual spring weather here in Kingman and surrounding areas and of course the changes that we've been seeing with the subprime lending market. As well as the interesting if not always accurate information in our own local newspaper.
The wall street journal just published a small rise in existing home sales and in a recent article in Arizona Realtor a recovery is predicted as well. To read more there go to http://rn.ftc.gov/pls/dod/wsolcq$.startup?Z_ORG_CODE=PU01
After being bombarded with all the information and without a crytal ball I must rely on what I am actually seeing and hearing in Kingman. What I'm hearing is good. I am experiencing much more serious traffic on my website and the phone calls I've fielded have felt much more serious as well. So here we are with 242 days left in 2007 and I think the buyers are tired of waiting for yet another reduction and deciding it's time. With interest rates where they are, with housing inventory what it is and reductions already made I have to say what I've been saying all along...it's a buyers market and an incredible time to buy. Don't wait until there is a rush...prices go up when everyone is competing for the same house or area. Buy now when the prices are competitive and you have plenty to choose from. For those who have decided now is the time...congratulations, I agree.
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