Recent market events and the continuing injections of capital into automakers  and banks are all signs were heading for inflation. I personally just refinanced for a 4.625%- 30 year rate. Simply unbelievable ! Why would you not take advantage of such a great offer……..Again, at some point we’ll see inflation and were already beginning to see a resurgence in commodity prices. With the first- time home buyer credit of 8k , low rates and house price declines what more can you ask for?

To be fair the economy is still in recession and consumers need to be confident they have jobs, however, it’s a psychological barrier we all need to cross
Warren Buffett says get ready for inflation…
Giant debt levels require America to slowly default on loans.

Credit Suisse publishes a monthly National Real Estate Report. Here are some excerpts from the April Market Trend.

Highlights- Agents are seeing buying traffic increase over the past 30 days, however below expectations. The interesting piece being of those surveyed 41% stated below, 36% said it met and another 24% said it exceeded.

Pricing and Incentive Trends worsen- Home Prices fell further in April and incentives appear to be trending higher.

Time needed to sell a home lengthened– A negative indicator for future pricing trends. Of the agents surveyed over half stated time to sell was unchanged relative to March, while 41% stated it was longer and fewer said it was shorter. Overall view the longer time to sell was a negative indicator.  ” Buyers, are still uncertain about the economy and their job security despite favorable interest rates and prices”

I look forward to this monthly update, as it does give a National Perspective.  Overall the Raleigh market has faired quite well and as we see a stabilization in the economy and jobs markets will give more buoyancy to our area.

On many occasions as a Realtor you find yourself in interesting conversations about the current economy, the pitfalls, doom and gloom and yes “Is it a good time to buy” ? Now I’ll be completely honest with you, I don’t know if home prices in general will continue to fall or rise but I am certain we are seeing some stability.

The great news is we are seeing sentiment improving.  I say sentiment because every individual, couple and families have a different set of circumstances. We all share the national story of a slowing economy a housing correction, and for the past 12 months or more we have been inundated with doom and gloom.

Yes sentiment is changing for the better in Raleigh, Cary, and Wake Forest. I’m witnessing it first hand as people have expressed to me more recently that they are changing their own perspectives and searching for the positive in their circumstances. Some of these folks have been laid off, looking for employment and face many uncertainties.

I don’t want to generalize, however it’s hard not too.  Input effects output plain and simple. Hats off to all of the folks across this great country who recognise the sun will rise and set …………….for the rest change the channel

Cheers

Jeff

P.s Sneak a peek              http://www.cpgtours.com/3914

It’s been an interesting start to the spring market. Much of the doom and gloom that persisted throughout 2008 has subsided. Although were not out of the woods were seeing more buyer activity in certain market segments. First Time Homebuyers have the advantage of the 8000$ incentive until Dec 1st/2009. I have recently worked with a number of folks whom were renting in Raleigh and are taking advantage of the low interest rates and this incentive. What’s not to like ?

Raleigh, NC and the Triangle market has suffered less than the rest of the country, and we are experiencing a pick-up in Relocations to the area for various reasons. Every real estate market is local and we have some new home neighborhoods that are flourishing. Heritage in Wake Forest is one of many to consider when your looking for a fully amenetized community.

I’ll be featuring Heritage and other communities over the next few months. I look forward to your comments and questions.

Jeff

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