Wow, did someone flip the switch? It sure seems that way. The real estate market sure has picked up since November and December.
Why? Well a few things have contributed to this. The first is consumer confidence. Shoppers were back out at the holidays and that was a very good sign that we, the consumers were ready to spend some money and not feel guilty about it.
In a down market, people who have money either invest in the stock market and real estate, or they let fear paralyze them and they hold what money they have. As their tensions lower, they start to spend again.
That, coupled with a very strong stock market had many feeling good again. Lastly, interest rates are at record lows and that the buyers who have been sitting on the fence waiting for the market to hit bottom now are motivated by fear that they may miss out on one of the best buying opportunities of our generation.
I’m seeing multiple offers again on both entry level homes as well as homes over a $ million. Seeing both ends of the market doing well is a great first sign of hopefully things to come.
Lastly, Silicon Valley is hiring again and if the rest of the Country starts to follow, the economy may well be on the way back.
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