Monday, March 10, 2008
This is a very confusing time in our economy, and especially in the real estate market. We hear from the national media that values will continue to drop on homes and that we should wait to buy a home.
Interest rates are down and I want to buy, but I'm afraid and not sure what to do! That is what we are hearing from a number of people. It is a very important decision and there is a lot to consider.
First of all not all states and city's are created equally. Every city or community has their own economy. The problem with these statements from the national media is that they do not tell us what is really happening in our own community. Even the local papers are quoting some expert in Washington D.C., New York or wherever! We need to know our local market. In the Treasure Valley we are very lucky as we have very low unemployment, a healthy commercial building climate, job creation and growth, low crime rates and mild weather, which all create an atmosphere where people want to liv...
| Posted by Mike Pennington at 2:35 PM |
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Thursday, November 15, 2007
As a marketing manager and one who tracks statistical data for developers and builders, it is very encouraging to see the recent numbers. September of 2007 seems to be the month that we can call the bottom of the market. In October we have seen dramatic decreases in home inventories, especially in the new home arena. We have also seen a slight increase in sales and closings. Homebuyers need to understand that the really great opportunities in the marketplace will soon be gone! Especially in the new home market, where we will have about a 5.5 month supply of new homes in January of 2008. As the market climbs back up to normal levels, we will see the prices climb as well!
| Posted by Mike Pennington at 4:56 PM |
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