December 17th, 2010 Phyllis Wolborsky Posted

Oh Boy, times have changed and so have greetings. It used to be when I saw friends and fellow clients, they would begin the conversation by asking “How are you and your family?”  ”Are the boys OK?” Frankly, after being a realtor for over forty years, I am thrilled to say I know lots of  wonderful people. Yet, the greeting today is simply… How is the Real Estate Market? I guess I have been a realtor for such a long time that I should consider this a compliment when they think of me as the EXPERT. So for the market, it depends on what side you are on, a buyer or a seller. Either way, I constantly work both sides and can frankly say, if you are a BUYER, there has never been a better time to buy a home.  I can also say you will not regret buying a home at this time of economic struggles, especially if you plan to be there for a few years.

The interest rates are still amazingly low and the home choices are fabulous and will be getting better in the first six months of 2011 when the lenders begin releasing forclosures back into the market. Sellers are realistic and motivated. Honestly, if you are fortunate enough to have a motivated seller and a seller that understands the condition of the market today, it is not necessary to go through the hassel, heartache and additional expense that you can incur with a short sale or foreclosure. I have heard and experienced nightmare stories regarding these transactions in lieu of a conventional sale.

Through the internet and with an experienced realtor you can easily shop and find a wonderful investment and a place to make and store memories. Let’s face it, there is nothing to compare to home ownership. You have to live somewhere, so it is actually considered a necessity. The interest is a tax deduction and something that will later be worth more than your initial investment and a place to touch and feel and make and store memories.

At this time, the interest rates are rising a bit. Interest rates rule over pricing. The rates can control the investment. Please don’t regret missing the opportunity of home ownership at this time in your life. The housing sales that have closed over the last 4 years confirms a growing feeling from The National Association of Realtors(NAR) that demand for housing has begn to increase. Both NAR and Fannie Mae expect an increase in sales over the upcoming five quarters. Below is a chart from Steve Harvey that shows the projections:

Both NAR and Fannie Mae expect an increase in sales over the upcoming five quarters. Here are their projections:

 

My next Blog will explain the market for sellers and how they should be conditioned and positioned correctly when they list their property in Raleigh, NC, Wake County and the areas surrounding the Triangle.

I am thrilled to be considered the expert on the Real Estate Market in my area and look forward to the day when I am once again asked…How are you?

God to www.PhyllisDidItAgain.com to see all of the latest lstings in the area. If you have a questions please call me at 919-876-2372 or email me at phyllis.wolborsky@allentate.com .

Please  go to www.allentate.com/PhyllisWolborsky  to get lots of information on real estate in our area and Allen Tate Company.