I’m getting more Buyers asking this question, “Have we hit the bottom yet in the housing market”? Personally, within the last three weeks, I’ve seen a tremendous increase in internet activity of potential lake home buyers looking for that “great deal”.
Joe O’Kelley, Managing Partner of O’Kelley & Sorohan Attorneys at Law, LLC, spoke today at a Keller Williams Realty award ceremony. Joe stated that March will let us know what 2008 will be like in the housing industry. He also felt that “now’s the time to buy”. Interest rates are going down, the home inventory supply is at 10 months, and home prices may not go much lower. Compared to the rest of the Nation, Atlanta and the Southeast is in great shape. Joe made another interesting comment, “people need to go back to thinking like in the old days where you bought property and held on to it for a while”. Things have changed. Homes aren’t appreciating like they did a few years ago.
So, maybe we have hit the bottom. What do you think?
By Jay Hufnagel, Keller Williams Realty Lake and Home Group, 770-757-2799