Is it me, or are things getting better?
The CAAR 1st quarter market report is out, and I can definitely say that we are, in fact, coming off one of the worst quarters we've ever had in this business. If there is a silver lining, I have been working with a lot of buyers who do see some opportunities (from the report):For buyers, the market has a few short-term opportunities to think about. First, interest rates, thanks to actions by the feds to shore up the financial markets, are very low right now. We do not know how long rates will stay this low. Second, first-time buyers can get an $8,000 tax break if they close on a home by the end of November. If a buyer is interested in taking advantage of this incentive, they should not wait until the fall to start the process.
As I've said in earlier posts, inventory is high and I've told my sellers to be flexible because we're competing with short sales and foreclosures as well. As always, feel free to contact me with any questions!
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