Heard any good economic news today? But wait, the Dow and Nasdaq have jumped up, and it is exciting to watch CNBC’s Erin Burnett discuss stocks on the floor of the exchange again. But then the truth hits again when you see that your retirement plan is still down 46% from a year and a half ago.
Head down, blinders on!
Okay, imagine that you are 27, healthy, and have a good job working for an internet security company that has government and private sector business. Actually, too much business since they hired three new people last month. And they know that your skills are in demand and recently gave you a little bonus.
Sound like you? Maybe not, but please know that there are plenty of them out there in the Washington D.C. suburbs.
This group is looking at the best “buyer’s market” in 20 years!
Rates are around 5% fixed for 30-years, there is plenty of inventory to see and to compare, and most sellers are willing to negotiate. Understand dear reader, the market is crossing an important threshold that may be missed. Are we skimming along a local bottom?
One of my listings recently had a full-priced offer within 48 hours, an open-house with 24 groups passing through, 18 agents with clients showing it in four days, and 4 agents asking me to call them if the offer fell out (no one wanted to start a bidding war). It was a real estate buyer stampede in March 2009 on a hot town-home.
Understand that watching The Nightly News can often give us tunnel vision. Yes, it takes a strategy to be successful in real estate, but real estate agents get to see a key ground-floor view of the economy and, in my humble opinion, the tide is turning as the cherry blossoms arrive.