While you were sleeping, the real estate market recovered. Apparently.
Last week, the Federal Reserve dropped rates by 0.75 of a percentage. Meanwhile, Congress and the President agreed to a $150 billion stimulus plan. And, proposals to increase the conforming loan limit were floated.
Things are all better. Apparently.
Your local real estate agent has already seen improvement (they say, ha ha!…).
Otha Greer, an associate with Coldwell Banker in Jackson, Miss., says the drop in rates ”has lit the fire in my business. I actually had an investor that called yesterday and she’s interested in buying five homes.” – Realtor.org
Jim Klinge, an associate in San Diego, was closing his fifth deal this month, a decided improvement from the 16 houses he sold in all of 2007. – Realtor.org
For others, they look at the past year as a one of personal achievement.
“For me, it was one of my best years ever,” said Jan Triglione, a Reading Realtor who is president of the Eastern Middlesex Association of Realtors. – Banker & Tradesman
But, even those agents who weren’t so lucky see the bright side of the “worst housing market since The Depression” (with a capital “D”).
Monica Harvey, a real-estate agent for Esslinger-Wooten-Maxwell in Miami Beach, says sales have slowed so much that she can work out at her gym more often … – Wall Street Journal
And, really, isn’t that what life’s all about?
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