Real estate is back in style
- Suburban prices suffer
- Foreclosures and bank repossessions
- Remodeling and additions
- Important segment of real estate
Real estate is back in style again. People are out looking for new homes, or the used home of their dreams.
People, old and young alike, are wanting to live where the action is, which is making urban and downtown real estate white hot. They want to be close to fine restaurants, coffee shops, theaters, and museums. They want to live, work and play where all the action is, hopefully, all within walking distance. This is driving prices up in the downtown areas and making suburban prices suffer.
Also, the weather has been much better than last month, so more people are out shopping for real estate. Investors are also very busy as foreclosures and bank repossessions have accelerated over the last two months causing more investors to bid for the available properties. Even though this new inventory is growing prices are inching up.
Also, you are seeing more and more ads on TV for remodeling and additions. People are remodeling their kitchens and bathrooms and flocking to the home improvement stores to start new projects. Sales of furniture, both new and used, are doing well.
In some college towns, the graduating students may drive the real estate prices as many want to stay where they went to school and more jobs are available for them. So students, especially grad students, will become an important segment of the urban real estate market.
QUESTION: What should readers take away from this message today?
ANSWER: That once again, real estate is in vogue.
QUESTION: Why is this information timely?
ANSWER: This information is timely because if you have been waiting to sell your property this is the time to get it listed.
QUESTION: How can readers best apply this information to their lives right now?
ANSWER: Start preparing if you want to move. Start cleaning out everything you don’t want to move and your plans to make the transition will go a lot smoother.
COMMENTARY: It’s been a long time coming, but real estate is back. If you have been wanting to sell your real estate this is the time to get it done. There are so many negatives in the economy that the window of opportunity to sell your real estate may not last long. So get it fixed, staged and listed at a competitive price to get it sold. Get out from underneath what owns you and go rent.