Rod's Blog

My market area is generally holding steady in terms of re sale values of existing homes but sales activity has slowed somewhat. I talk regularly to the folks at the county seat and they have a pretty good feel for market activity based on the number of deeds that are getting recorded. They tell me there is a seasonal "uptick" in transfer activity right now but over all it's not really that busy county wide. Some brokers & agents tell me that the economic stimulus incentives for first time buyers are driving some formerly indecisive folks to making a purchase decision.  My guess is that this will impact the mid to lower price ranges the most since these market segments are usually most appealing to first time buyers. Brokers and agents are also telling me that this is no time to be padding asking prices; formerly hot markets of a couple years ago have cooled with longer marketing times and flat values. Brokers tell me that realistic prices are the best first step to selling in a reasonable time frame. Refinance activity is still brisk due to low interest rates but a very recent increase in mortgage rates could ice things a bit for refi's and for sales activity... we'll see... stay tuned.