[quote=sdrealtor]Ok, time for someone who actually sees whats going on at the street level to stick his neck out. I’m going to go against the popular wisdom and declare that it is going to be a very good Spring for real estate. Sales will be strong and pricing may even creep up a little in some markets. Based upon what I am seeing, there are lots of buyers out there chasing very limited inventory under $600K. I am getting piles of offers on nice but nothing special homes the first week in this price range. All have at least 20% down and went up from there to all cash. I probably could have had twice as many offers if I didnt chase a few away that were lower than the ones I already had.
Between 600K and 800K I expect a very strong market also. I am seeing lots of folks who sold at the top who are sick of renting wanting back in. They see the market has fallen by at least 50% of what they think is possible and they dont want to wait another 3 to 4 years for the rest of the bloodletting. I see lots of previously priced out buyers wanting back in. Some were priced out by choice (i.e. bubblesitters) and some were truly priced out. Either way, alot of them want back in. From here on out the declines are going to be much slower.
Above 800K and in particular over $1M its still going to be pretty slow.
My advice for the other Realtors on this board is to collect as many listings as you can before February because there is gonna be alot of money to be made this Spring. Happy Hunting![/quote]
SD, I have a question for you: if official unemployment hits 10%, would your analysis remain the same? Or are you basing your prediction on the economy remaining in a holding pattern?
