Is it June 1, 2009 already?
We’ve heard many dates—days, months, years—mentioned as the date the real estate crisis turns a corner and starts to look up again. The most recent being June 2009.
Funny thing about that is many of our real estate developer clients are seeing a big up tick in buyer interest right now. They report that these potential buyers are no longer spouting the 2008 mantra, “We’re just looking. We’ve got to sell our house before we can do anything.” Instead, these buyers are saying they are willing to move some money around in order to take advantage of great mortgage rates and real estate prices.
If you think about it, can it get any better than it is right now? Interest rates around 5% and real estate prices, in many cases, rolled back to late 1980’s levels. A lot of people are coming to the very real conclusion that the time to buy is now!
So what is the June 1, 2009 date really all about? I think it’s just the date the national media will start talking about the real estate crisis being over. And, we all know that what the national media says is gold.
Kelly@maximumdesign.com
