Today I wanted to pass along some thoughts and ideas I have regarding our current real estate market. First, the $8000 tax credit is currently set to expire November 30, so if you or anyone you know qualifies for this, they need to be under contract VERY soon...call us for more details.
Second, we are entering a cyclical slowdown that we typically see this time of year. My hope is that the pick up we normally see towards the end of the year will come as well, but in today's economic times, who knows. We will be putting out some market statistics over the next several weeks that will show what has been going on in regards to prices, months supply of inventory, etc. for the Liberty Hill area.
Things that I have read from experts in the economy also state that interest rates are not likely to remain at their current levels or will be dropping. Things that are beyond my understanding are pointint that rates will start to rise and probably not return to the historic lows we have enjoyed for many months. That means if you or anyone you know is in the market to buy, they need to seriously look at their options before rates increase. Once that happens, you either don't qualify or qualify for a much less house!! Take advantage of rates we may not see again in our lifetime!!
But this doesn't need to be all doom and gloom. Remember that real estate is local, and our locat market is hanging in there quite well. Prices have been relatively stable or only dropping slightly. We are very fortunate to be in our area as compared to many parts of the country. Properties that are priced correctly and conditioned well are still selling in reasonable amounts of time, and buyers are still getting buys at market value!
Stay tuned for more specific data in the days to come. If you have any questions about what is going on, whether it is a good time for you to buy or sell, or need anything else, please contact us at 512-515-5263 or shanetwhite@remax.net .
