Economist John Tuccillo predicted the end of 2008 or beginning of 2009 for the nation as a whole.
However the Virginia-based consultant and former NAR chief economist stressed that "there are hundreds of thousands of real-estate markets, so it doesn't matter what the national picture is." What really matters to buyers and sellers is what's occurring in their own area..."After the first of the year we'll get a little momentum boost," he predicted.
to read the full article go to http://seattletimes.nwsource.com/html/realestate/2004018732_nar180.html
Elizabeth Rhodes: erhodes@seattletimes.com
Elizabeth Rhodes: erhodes@seattletimes.com
Copyright © 2007 The Seattle Times Company
This article just came out the other day. I truly believe that our market is correcting itself. You cant sustain appreciation for that amount of time until it will eventually match inflation. I don't however believe that there is a national market as some people would disagree. I think each area has its pros and cons based on many different factors. Specifically what the economy looks like in our individual area. Seattle has one of the greatest economy's with the lowest unemployment rates in the country. Its no wonder we haven't seen the "bubble pop" so to speak like other areas.
I still think this is a great time to invest in real estate and if anyone tells you otherwise then they don't know what there talking about! Our company specializes in Rent to Own (Lease Option) investment strategies. We have seen a tremendous increase in our investment activity. Right now rent to own opportunity's are a great vehicle to be in and apart of. For more information about our Rent to Own program go to http://www.empireoptions.com/. Remember, it all depends on what kind of deal you are getting into when your in the real estate market. Two years ago there were good things and bad things to be involved in when it came to investing in real estate. Nothing has really changed just today there are different strategies
Also, a side not to mention. Its not always about "investing". Yeah, for some of our clients that's what there primary activity is in real estate, but not everyone. Some of our clients are only concerned about providing a home for there family...that's all they care about in real estate. So for that reason i would definitely say now is a great time to buy. There are a lot of great deals on the market and with a good team of advisers you can get some great buys!
But you know what, there are so many different opinions out there you could talk to 10 people and hear 10 different things. What do you think will happen? When will the market correct itself? Besides your opinion is the most valuable isn't it? ;) Tell me what you think about the housing market and when it will rebound.
Dedicated to your Success,
Kenton Becker
Managing Partner / Lakemont Mortgage Specialist
