Chesterfield, MI 48051
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February 14, 2012 8:12 am
Over the past 27 plus years I've seen a lot when it comes to unique market conditions. But never before have I seen circumstances align with each other to create such a "POSITIVE" market impact on the local real estate market!
Rates have never been lower, buyers have never been so abundant. Values as we all know are extremely aggressive, housing inventories are at an all time low as well. Interest rates are at record lows allowing many buyers to afford a new home. The bank owned or REO inventory has fallen off dramatically due to the last year of the Mortgage Forgiveness Act of 2007 expiring. Many more short sales are available due to that law.
Most importantly, all of this is for the first time aligning in the Spring of the Year and during the added bonus of an Election Year. History shows that during an election year whichever administration is in office...there's efforts to try and maintain the appearance of "stability" within the marketplace in order to help with the re-election process.
It's encouraged to anyone who may be considering a purchase, worried about how to deal with an "upside down property" or contemplating selling/transferring do it now while things are good.
AND THINGS ARE GOOD! Far better than what is portrayed in the media or reported by the government. 2011 was a record year and 2012 is on pace to be even better!
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