Archive for the ‘consumers rockland real estate’ tag
Rockland Real Estate consumer confidence
Will spring showers melt away the big bad witch of fear?
* A declining stock market which needs time to rebound from its losses
* Retirement accounts dwindling
* Skyrocketing unemployment ~ and more layoffs or job cuts this year.
* Home prices and home sales have declined year after year since August 2004 and according to the National Association of Realtors, the greatest price decline since 1968. This all translates to markets and consumers who are seeking safety.
We’ve all heard the news, both the bad and the good. The negative news is outlined above, including how difficult it is secure mortgage money right now. The more positive news is that truly, and historically, this is one of the best times in decades for anyone to purchase real estate. Low mortgage rates, (the lowest in 50 years) tax incentives, and perhaps more on the horizon. People everywhere are hoping that these efforts will serve to stabilize our housing market and help create that elusive CC.
If you are a frequent visitor to this site, you know that I continually harp on the importance of properly pricing your property so that it is positioned well in this incredibly competitive market. You also know that we have been tracking inventory. Declining inventory serves to stabilize home prices. So … as usual, we will be watching the next three (3) to six (6) months closely. It will take that amount of time to see if “the buyers are back”.
