Report after report is giving me more and more evidence of my prediction/theory that the real estate market has bottomed. We continue to hear reports from the "boots on the ground" in heavily hit Florida markets that sales are increasing. It did not take a rocket scientist to know that the lower end market would be the first to recover. Investors have come into many markets buying up the short sales and bank owned properties. By no means are we out of the woods yet, but for the first time in a long time I am nervous that my clients will not get the house they want if they do not act quickly.
For the past 18 months there was no sense of urgency. That seems to have changed. We are not even close to a sellers market, but we are working that way. Once the lower end items are snapped up the masses will realize that the market is heating up again and will want to get a "deal" while they can. I will be the first to say they better hurry up in some markets. It is funny how most will not get into the market until everyone is in and the best deals are gone.
Home prices continue to fall which makes it even more exciting for a good rebound into next year. If only the interest rates would get below 5% again we would be golden! Why are you still reading this? Go buy some property!