I took a little hiatus from the online world for the last 2 weeks or so which is higlighted by my Halloween post and my Blazer post. I haven’t written much about real estate because there was no definitive news on where we are going and that is what I am trying to figure out. Whatever is on my mind regarding real estate is what I will write about, hence the title Mike On Real Estate.
I expect very few sales for the remainder of the year. The people who are buying, those that see the low interest rates, are few and far between. Buyers can probably get some great deals from owners who have the room to reduce and even the nervous banks when December rolls around.
When the first of the year comes, I expect many to poke their heads out like the proverbial Groundhog to see if winter or spring is coming. Depending on the news, whether it be horrific or hopeful, as we go through December and see what layoffs and other economic that should shade opinions on whether to put their money into play.
Right now as people hear of the big automakers possibly going under, which would represent 2.9 million jobs, they wonder about their jobs and if they will survive cuts. That uncertainty has to be removed for us to begin recovering. So I expect an extremely low sales number for the next two months as people decide, or wait, to see how the economy is doing while they go through the holidays. After that it is truly anyone’s guess.
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Jeez Mike, uplifting info
Glad you were able to take some time off, it's always good to get in when possible. Welcome back to the interwebz.