MARKET UPDATE

Dear Buyers and friends of Buyers,

I continue to keep buyers that I am working with up to date with the ever so changing market. As most of you know, I am a very statistical person. Statistics don’t lie and I rely on then to give my clients and customers the best and most informative recommendation on the market.

So what was the worst year? End of 2011 early 2012

Has the market changed? Yes middle to end of 2012, currently there is still shortage of listing, increase number of buyers, as a result prices are starting to go up and homes selling faster. 
This doesn’t mean that the market is going crazy and you will not be able to purchase a home, but it does mean that the bargains are going away faster and the market is starting to increase its prices. What does this mean for you in your home search? Unfortunately it isn’t going to get easier. The new year always bring out new and more buyers. The secret is definitely out . IT IS A GOOD TIME TO PURCHASE A HOME OR CONDO!

*National Association of Realtors February 28th 2013

Pending home sales rose in January, and have been above year-ago levels for the past 21 months. NAR Chief Economist Lawrence Yun explains: "Favorable affordability conditions and job growth have unleashed a pent-up demand. Most areas are drawing down housing inventory, which has shifted the supply/demand balance to sellers in much of the country. It's also why we're experiencing the strongest price growth in more than seven years."

If you are a serious buyer in today’s market, I would encourage you to not only to actively look at homes, but when you find the right home, be prepared to act quickly. Multiple offers are not unusual in todays market. In a multiple offer situation you are now competing with other buyers and lose negotiating power.