Months ago I wrote about how it was impossible to time the market (Doesn’t matter whether you are talking real estate or other)  I happened to be talking Real Estate.   

 I wrote about how when we knew the market had bottomed out we would be on the upswing.  That the upswing would be sudden and it would be too late to participate in the spoils of great deals.   Woe could I get many buyers off the fence with that call.  I guess that is what happens in a buyers market, buyers don’t buy. 

In the last 4 weeks, I ran out of listings in the 150-250,000 price range.  I could feel the trend early as I had priced the listings competitively, they went first.   Now I am hearing Realtors who have been slow, coming to life.   My title company says they have been working 10-15 hours on the weekend?   and a banker friend said last week the spigot of first time buyers was turned on for her.

The speed of this turn around has surprised me, to be honest I am still thinking it could be a seasonal blip, but I’m ready for some selling, lots of inventory to be moved.

So where exactly are we on the pendulum of market swings? 

Well I believe we are past the best bargains.   These disappeared back in Jan-March.  Now more buyers are enjoying some nice deals, but as more buyers come out and they have started to far exceed the steals, foreclosures etc, more regular priced homes are selling. Of course this starts to drive up prices. 

then:

  1. At some point as this process becomes more apparent to buyers they jump in for fear of missing the boat, competition increases for well priced inventory, multiple offers occur more often.  
  2. At some point sellers begin to realize the same and as hope replaces fear, they increase expectations.  ie they are not so willing to give. 

Buyers, I believe there is still time to get a good deal we have seen 1 above, yet sellers (2 above) have not caught on.  (a few positive news reports will take care of that) 

Full recovery?  no, but a great start?  yes.  

Every price range?  no   but as starter homes get snapped up, move up buyers get mobilized.

Buyers, if you are still on the fence, now it the time to dismount.   Gallop to the lender to secure your historically low interest loan and ask about the $8,000 tax incentive, (basically like free money) and canter to your Realtor to get coached on how to select the best home from the many still on the market.  Read about RealEstateGuy’s home buyer consultation.

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