A new Chance

Editorial by Malte Strauss:

Clients and customers often ask us if we reached the bottom of the housing market and if we see and end to the financial crisis. When is the best time to buy and when will we see a more stable market, so that potential sellers have a more level playing field? The truth that no one knows exactly when the market takes a significant upswing. Here is what has transpired in the recent weeks and days:
Lately we have experienced more inquiries from potential buyers locally and from abroad. The Orlando Realtor (R) Association reported a promising increase in sales for December which is traditionally a rather slow month in Central Florida. So there are indicators that more and more buyers are taking advantage of a positive buying climate. The inventory has been stable over the recent months and even started a slight decline while the number of properties under contract rose as well.

Perhaps it is the new administration that inspires confidence in people. The mantra of possibilities "Yes, we can!" seems echoing in peoples minds and the long road of recovery seems in sight. There are winners and losers in every market: buyers market, sellers markets, bull or bear markets, domestic or foreign markets. But one thing is sure: Smart investors are now planning their future wealth. Many see great potential in real estate for long term investment strategies. Aside from the difficulties in the sub prime lending industry, there are conventional loans and government backed programs with interest rates in the mid 5's. Cheap money and low price levels in many markets create affordability for investors and future homeowners alike. We are just started a new year and at the same time enter a historical era of political progress with Americas first African American President. Barack Obama seems to inspire people from all walks of life.

I predict that we continue to see an increase of interest in Real Estate sales while the number of foreclosures in the pipeline will fuel the inventory for a little while. Great deals are out there and Real Estate Professionals like Helene and me will certainly continue to help clients and customers to identify them. Whoever is looking to make a deal has the chance to make the purchase of a lifetime. If your list of new year resolutions include the item "Purchase real estate dirt cheap" don't hesitate to call. The best listings are getting multiple offers at the moment. It is a good time to get back in the game.