The Poll Results - What will this year bring?

Fifty per cent of the respondents felt the market would improve in the upcoming year while only 28 % had a pessimistic view. They believed that values would continue to fall. Twenty one percent felt that properties would maintain their values this year. This writer finds that having 72% of readers believe that values will hold or improve great news. The last several years have been the worst we have had in the last twenty years. I believe a slow and steady recovery is under way.

Poll - What will this year bring?

I thought it would be interesting to take an informal poll on what the readers think the prospects for real estate will be this year. Will value and sales continue to fall? Will the market remain about the same as last year? Will the market improve? Or will we have a remarkable recovery? You will find the poll immediately to the right. Please select your answer. Be sure to place a check in the cirlce to the left of your answer and click on the vote button. You can check the results after you vote. I will publish the final results next week.

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2009 vs. 2010 in Craven County Real Estate

For this comparison I examined residential sales in Craven County for 2009 and 2010. The average price decreased by 2.5%.  The total sales volume decreased by 7%. The average days on the market remained virtually the same.

Even  though the market continued its decline, the pace of that decline has slowed. Listening to financial news it seems as though the markets are improving. Apparently corporations have lots of cash sitting on the sidelines waiting to determine the direction the new congress will take. Many businesses are reporting substantial profits having cut expenses for the last two years. We are certainly primed for a recovery. Accurately forecasting the peaks and troughs of the markets are very difficult. I believe we are near the bottom and perhaps past it. I will advise my clients to buy. Interest rates will increase over the next twelve months. I believe the best time to buy real estate is now.

I would be interested in your opinion please leave a comment.

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