Ok, enough of this gloom and doom! It's a new year and a fresh start. Hi, this is Gary Edelbrock, and I'm talking with my good friend, Lee Amble, and asking him what he thinks is going to happen this year in the world of real estate. Here's what Lee has to say:

2012 Real Estate Outlook: A Good Year Ahead!

By Lee Amble

Below is my outlook of our local market after selling real estate here for the past 32 years plus an additional 6 years in North Dakota & Minnesota. I do believe I have a very good feel for the market, but, again, you are the one that makes the final decision on your own home, whether selling or buying. I do hope the information will be of some help. Keep in mind, looking at some National statistics, attitudes, and feelings can affect our local market somewhat.

1. Sears and K-Mart have announced they will be closing 79 stores with only 9 scheduled closings in the Western half of the United States. The higher number being closed in the Eastern half of the United States does indicate that they have a more positive outlook for the Western Region.

2. Home sales across America in November were up by 7.3%, which is the highest in 18 months; a very good sign!

3. Home Builder stock on the stock market rose 30% in 2011. (Investors should know what is happening with their research.)

4. Public sentiment is way up compared to the past, which normally breeds good times.

5. Nationwide inventory of resale homes is at its lowest siince May of 2005. Do we need to say more what will likely happen to pricing?

6. Projection for jobs in 2012 is very positive compared to the recent past.

7. Interest rates will continue at near record lows during 2012. A national election year does help the rates.

8. Bank foreclosures and short sales are down considerably compared to the past 6 years. Now for our local market; Brighter days!

It looks like a very positive market year ahead for local real estate. We have been in a buyer's market for about 7 years, which, in most cases, is converting to a neutral market. Some price ranges are in a sellers market now because the inventory is down and, in some cases, an increase in prices. The market and supply for upper end homes, lots and/or acreage still have plenty of inventory and will remain that way for quite some time with prices starting to stabilize in some areas.

Many parts of the Southern California market have bottomed out making it easier for people to sell their homes. That market should be coming back. Phoenix and Las Vegas still have a long time for a market correction; possibly a couple of years in some areas. Northern California has appeared to have bottomed out in most areas.

We will have more homes sold to full time residents and less vacation home purchases. The recession will lead to more full time homes as many can no longer afford both. Were very fortunate as the Prescott area is one of the best year around living areas in the nation. Would you rather live here for 12 months than in Phoenix, Seattle, Chicago, Tucson, Los Angeles, etc. ? Weather, taxes, and traffic are some of the reasons to enjoy Prescott full time! We do offer the best!!

CONCLUSION:

Our real estate market will be better for both buyers and sellers as homes are selling and people will be able to move up or down in their price range and/or square footage needs. This will allow many to move on in life.

Remember when buying or selling, all homes and areas are different. Think of your home as a finger print - all individual! Do not look at Zillo or other Internet sites for prices on your home as it's a total waste of time and, in some cases, money. Remember they have never been here to judge the neighborhood, condition of your home, salability, etc

We're looking forward to a much better year than the past years. Happy New Year, great buying and selling, great health and have a great life!!

More information is available from Lee @ 928533-4455 or, This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

Article coming soon: Sell your home in any market, anytime and anywhere for more!

'BUYING A HOME IS EASY! DOING IT RIGHT IS THE KEY!"

Lee Amble-Realtor/Consultant
National Realty of Prescott
Lee's cell: 928-533-4455
Jan's cell: 928-533-4488
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.