Expert Real Estate News

In the Knoxville News-Sentinel, today, there is an article about the various Rarity properties and how people have bought them at a huge discount. The lead in the story told of someone who bought a property in 2006 for $445,000, and someone else bought the same property recently for $5,500. I am thinking it's a good time to look for a piece of lakefront property or an investment property, not to mention finding your dream house during this time.It appears we will have another year or maybe two to find the deal of a generation. Remember all the pieces of property you have thought about buying in the past and now you say, "see that house? I could have bought that for $18,000 back in 1980." This is another one of those times. Now is the time to buy real estate.

Mortgage Bankers Association: 2011 "The housing market may not stabilize until the first quarter of 2011."

Business Week: 2012 - "With any luck, three years should be long enough for the U.S. economy to recover and for the nation's housing inventory to shrink to more normal levels."

FHFA Price Decline Study: 2010 - "Indexes suggest that the time from peak to bottom tends to be about 3¾ years, whereas the median recovery period (from bottom to prior peak) was 6? years."

Case Schiller Future Price Index (as of 6/09): May 2010

If you need to sell a property during this time, do not worry, call me, I have a system to sell it for the highest amount during this market.

Call Cathy Glass, Realty Executives Associates, 865-693-3232 or directly at 865-384-8636