Spinoff to the RE Market...(I hope this can help some of you)

I HTH all of you that were wondering where the market is and where it is going.
I am a title rep and closer I can tell you that the market always dips a little in the winter and most people will pull the their homes off the market, in order to re-list them in the spring at a higher price. Thus, the prediction for a dip in the winter and higher prices in the Spring is accurate.

I went to a meeting where the head of the Federal Reserve for NYS told us that the market is slowing down to a more sustainable rate of growth. Most investors got out of it and now are investing in stocks. Therefore, there will not be a ton of "flips" driving the market up (as in years past). Plus, the market has had record highs the last five years. NO INDUSTRY can have record highs for years without dipping a little. The bubble has not burst, it is just slowing down and prices are leving off to what the homes are actually worth.
The media is blowing it out of proportion with doomsday senarios. I am very busy at my office and instead of doing 6-8 closings a day, I now do 3-5 sometimes more. People are still buying homes. A lot of first time home buyers are buying now, not too many "investors" anymore.
I hope this info helps anyone who was wondering or was concerned about where the market was going and when to buy.

ETA: No one has a crystal ball, but I figured I would write what I am seeing at work everyday.

Message edited 11/9/2006 7:09:17 PM.

Re: Spinoff to the RE Market...(I hope this can help some of you)

thanks, good for us since we are planning to buy in Feb/March!!

Re: Spinoff to the RE Market...(I hope this can help some of you)

Thank you, that's still good news for us.

Re: Spinoff to the RE Market...(I hope this can help some of you)

Glad I was able to help. I just wanted to let you all know that the market is not all gloom and doom like they say on all the news channels.

It is slower than it was a year ago but I am seeing a lot of first time home buyers. Rates are still at record lows and I think the fact that investors are out is great! Maybe now, people could afford to get into a home for the first time and all of the fly by night "RE professionals" will leave the industry.

Good luck to all of you!