It's a beautiful morning here in our lovely quad-city community. Hello, this is Gary Edelbrock, and I'm with Lee Amble, who still thinks you can make money in the real estate market. Let's see what he has to say.
Making money: A Look into the Future
Buy, sell now or later?
By Lee Amble, Realtor/Consultant
The following ideas and thoughts come from my 37 years of selling real estate, watching trends, emotions, TV, radio, internet and much more, but, what I consider to be most important would be talking with realtors, lenders, loan underwriters, home inspectors, builders, appraisers, etc. and last, but not least, home buyers and sellers. I combine all of it to give you an idea of the current market and a peek into the future. As many of my readers know, I don’t waste your time or mine on past graphs and statistics; they are for history book writers, gone forever and never to change. So, let’s take a look now and into the future.
Buyers
It’s a good time to be a buyer as prices are still very value oriented compared to the past. The future prices will continue to trend up, but possibly at a slower pace than we have just experienced. Some lower price ranges show an increase of 20 to 30%, which means there are still great buys available. Buyers will find in the Prescott area, the best months to buy, in most market ranges, are November, December, January, February and March. I’ve seen this to be the case on average during my 37 years in the real estate business. An important thing to remember is that the buyers have the money and, therefore, they always set the final price. Also, the sellers set the asking price, but the buyers have always pushed prices up or down during the cycles of real estate selling/buying.
Sellers
How can this be? It’s also good for them as they can now sell in a few days or a few weeks rather than months or years as in the past. They can now move on with life, i.e., retirement, job transfers, up or down sizing, which often means they may be trading dollars but on a higher scale. The best selling months for the home owners for time and price is normally May, June, July, August and September than would be in a typical market.
Builders
The builders I talk to are finally back in business and selling at a much greater number compared to the recession time, which is also happening nationwide with the last month’s permits being the highest in the past four years. It looks very good for the future of the builders – finally!
Unknown Factors
Perception
As I have said in the past, perception usually becomes reality. There is so much good news about real estate sales, building permits, and activity, locally and nationwide, I can barely remember the last bad news. Also, look at for sale signs up and down your street and neighborhood as compared to the past plus look at the new residential and commercial building, which means jobs. Yes!
How about the traffic coming into town? There are more job offerings in the newspaper and internet sites! Good, yes! The parking lots are fuller, restaurants busier so jump on the band wagon and be a believer, much better times ahead!
Housing Inventory
New Home Builders
One major local home builder increased prices in the past month and it looks like more will follow as lumber prices and other components to build have also had price increases and will, of course, continue as the demand for new housing sales increase on an upward trend. Jobs, Yes! That’s the good thing!
Conclusion
You make the call! My call would be prices are just starting to go up, which still makes it a great time to get back into real estate. The waiting has been long and the time is now!! The housing market has stabilized in about 20 major markets according to what I read. We sell property in the Prescott area to people from all major markets, including most states, so these reports are are great news for all of us. We are finally seeing a really bright future for the housing market and all concerned. (Did I mention our great year around four season weather?) We are truly blessed to be living here and we look forward to others also being able to enjoy our community.
Thanks for taking your time to read my ideas and my opinions. You make up your own mind, as these are only food for thought! Hope it does just that for you!!
"Selling a Home is Easy! Doing it Right is Key!"
Lee Amble, Realtor/Consultant
National Realty of Prescott
Lee’s cell: 928 533-4455
Jan’s cell: 928 533-4488
This email address is being protected from spambots. You need JavaScript enabled to view it.
P.S. Thanks for your responses to my article, "Do You Care if Your Neighbor is a Half Way House". I appreciate all thoughts and sides of this issue, even the one who did not have enough nerve to sign his/her name. You go figure!!
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