Spring is in the air. The warm weather and sunny skies improve everyone’s mood. Spring is also the time when people consider their housing options. The Real Estate Swami says that it may be the best time in five years to buy or sell a house.
“Housing may be ready to bloom,” says the Swami. “The economic outlook is much improved as reflected in strong retail sales of automobiles. New car sales are the best they’ve been in four years.”
Job creation is also on the mend. In the first two months of 2012, the economy added approximately 500,000 new jobs. Swami says new jobs are the seeds for a housing recovery.
“New job creation begins the domino effect in housing. This brings new people into the housing market creating positive momentum at the rental and starter-home segments. The housing surge then cascades through the higher-end housing market over time,” remarked the Swami.
The glut of bank-owned homes is still a drag on the housing economy but it may begin to subside. The Swami has seen a noticeable uptick in central Ohio houses going into contract.
“In my efforts to find housing for several clients, it is clear that existing home sales are improving. Superior products that are priced right are going into contract within days. This is a positive sign and could bring about the first substantial appreciation in home values in six years,” predicts the Swami.
If you are considering buying or selling a home in the near future, then Swami suggests to keep an eye on local house sales.
“How close to the listing price a house sells for is a good barometer for the housing health of neighborhoods,” says the Swami. The days of deep discounts and a housing market severely tilted in favor of buyers may be coming to an end.”
John McGory is a licensed Realtor and partner in Webface, a content marketing company. If the swami can help you in either buying or selling a home, then please feel free to call at 614-581-3610 or send an email to jrmcgory@gmail.com. We will be honored to assist you.
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