With the passing of the first day of spring on March 21st as well as the completion of Easter Weekend, the spring market is officially here. Things are looking promising with a lot of activity in the early weeks of March so there are a lot of things to be optimistic about. Interest rates are again low (5.6% at one point last week), home values are at a low point, pent up demand is there, economic stimulus checks are in the mail, tax returns are comming and the government seems honestly concerned about the foreclosure rate – to the point of taking action to reduce it. All of these factors point positive and if you haven’t started to hear rumblings in the media about a possible recovery in 2008, you soon will.
If you’re entering the market this year – whether to buy or sell – this next couple weeks you have to start thinking about how to prepare. Sellers – get those homes freshened up and get them on the market to take advantage of the early activity. Buyers – start contacting your local real estate professional (630 – 346 – 1041) for advice on how to start the process. 2008 should be a defining year for the real estate market as well as the economy – you need to be aware of what’s going on at all times and your local real estate professional is the key to helping you understand the market and how to come out ahead.