Practitioners Say Business Is Improving!!!!!

Does anyone see a trend yet? Here is what I see. There are more foreclosures on the market but Realtors are saying that business is up, Hmmm....... My guess is that there are a lot of good deals out there, and smart buyers a taking advantage of them. If you are in the market to buy a new home, now is the best time to buy in years.

Will the market get softer? Will prices continue to go down? I don't know for sure, but economics 101 tells us that as long as the demand meets the supply, prices will stay the same. If demand is higher than the current supply (last months numbers) then prices will climb. How much will depend on how fast the inventory gets sold.

So if you are looking for a home. Now might be a good time to buy one. Before the demand gets to high and supply gets too low.

If you are interested in buying a Bank owned/Foreclosed home in the Tucson area please go to our website at www.thepepper.com and look for the Real Estate tab on the left. Then click on "forecluser bus tour"

Good luck, and happy hunting!!!



Real estate practitioners nationwide are seeing signs of recovery in the housing market.

"If you're not going for pie-in-the-sky type of numbers and price your house accordingly, I think that it’ll go pretty quickly," says Victoria Hanbury Howard, an associate at Coldwell Banker in Washington DC.

"There's definitely more traffic," says Patricia Giambalvo, an associate with Realty Executives in Huntington, Long Island, N.Y.

RE/MAX associates in Phoenix, Tucson, Las Vegas and Orange County, Calif., are reporting that sales volume doubled in March compared to February and there are twice as many homes under contract in April, says Jack Kreider, executive vice president of regional services at RE/MAX International.

"Yes, this is definitely seasonal activity, but I can assure you that a year ago we weren't doubling what we did the month prior,” he says. The fact that it doubled is significant. It wasn't that big a year ago.”

Source: Reuters News, Lynn Adler (04/16/2008)