Uncertain times

It looks like the feds are stepping in stabilize some of the interest pressure on home owners.

The fed rate may drop again.

There is talk of stabilization in the Sarasota condo market.

The winter in Canada is expected to be the worse in 15 years.

So what does this all mean?

Well for the average person looking to get in to the housing market in the Sarasota, Bradenton, Anna Maria area, it means that striking sooner rather than later is probably your best bet.

Not that all the bargains will be gone tomorrow but thinks of this.

The inventory of homes for sale would increase as more of the adjustable rate mortgages start moving up and home owners find themselves unable to keep their payments.

The feds stepping in to relieve that pressure should help keep the inventory of homes for sale stable possibly with a slight decrease.

A drop in the interest rate will create more borrowing, expansion, increase the economy. Well you know how it is. So that too should create more stability.

The condo market in Sarasota, much like Bradenton is flooded. Any sign that is stabilizing is welcome, then again it might be a while to determine if that is true or not.

As for the Canadians. There dollar is high, the weather is lousy and yes, they do like to spend the winters in Florida. Canadian banks are also helping them do that with favorable second home mortgages.

If you were sitting on your hands waiting for the market to turn maybe time to start rubbing them together.

No, I don't see prices rising before the end of 2008 but the extreme bargains may start getting fewer and less frequent.

For the market savvy buyer this means it is time to make a choice.

Waterfront dream home for retirement at wholesale prices anyone?

All the best
Greg Owens PA
Keller Williams Realty of Greater Manatee
941.779.5149