Hello, Trent Woods Neighbors!
Do you feel a sense of relief the last few days? People always adapt better to the known than the unknown - that is a proven fact. The election is over and whether your candidate won or not, we’ll have a NEW President come January!
Also, the sense of change is in the air. The economy seems to be leveling out. We are seeing some good indicators in the Real Estate industry that I wanted to share with you.
Do you know how many ways the Real Estate Market in your hometown affects your local economy?
It affects banks, insurance agents, home inspectors, building contractors, surveyors, appraisers, Realtors®, attorneys, termite inspectors, engineers, among others as well as all the people they employ for administrative assistance. In other words, it is a domino affect.
I found an article published recently by RISMedia (9/4/2008) that may help restore your confidence that the Real Estate market is alive and well and coming back around. Here are some highlights from the article entitled “How Does the Economy Effect the Real Estate Industry” by James A. Crumbaugh III, CEO of Allison James Estates & Homes.
“I’ve noticed that when the citizens of this country start to feel insecure with our country’s direction, coupled with a fear of the economy and the stock market, they start to take the money out of the stock market and put it into real estate.”
“If you go back and look at when the latest real estate boom first got its toehold, it was right after 9/11. Just before, the country was going through the DOT.COM bubble meltdown. Then 9/11 happened and the next thing we knew we were on a wild ride for years of escalating real estate values.”
“The public is scared to death of our financial institutions solvency and the stock market is on a wild roller coaster ride. So once again the public is faced with the same fears of 2000 and 2001.”
“The pent-up demand combined with the other concerns of the economy makes people want to put their money into something tangible, and real estate is tangible. It doesn’t go away like a company can.”
“The people who try to catch the market at the very bottom or the very top almost always misjudge. Anytime you can get within 5% - 10 % of the bottom or the top, you should make a move.”
The 2008 National Association of Realtors® just finished its convention in Orlando, Florida. The reports from there support the fact that consumer confidence is growing again, so take heed of what the article tells you about not waiting for the "bottom.” NOW is the time to make the real estate investments that have the potential to secure your financial future!
Your Real Estate Consultant,
Donna Harmatuk
Trent Woods October 2008 Real Estate Update
(From Neuse River Region Board of Realtors® New Bern MLS System)
Homes for Sale: 60
$100K-$199,999 = 10
$200K-$299,999 = 15
$300K-$399,999 = 14
$400K-$499,999 = 10
Over $500,000 = 11
Homes Sold (Pending): 5
$100K-$199,999 = 1
$200K-$299,999 = 2
$300K-$399,999 = 1
$400K-$499,999 = 1
Homes Sold and Closed: 0
(October 1-31, 2008)
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