At least according to the lastest numbers released by a trade group stating that pending home sales are up by a little over 10% according to contracts signed in October 2011. This number reflects that the market is moving and this may be attributed to the low mortgage rates that buyers are taking advantage of.
Does this reflect investor buyers or single family home buyers? If I had to guess, I would say probably investor buyers and some single family home buyers who have good credit and made their move at the right time to buy in this market.
I think it’s safe to say that for the most part no matter what the market is there will always be buyers as long as they have the money or the credit or access to someone else’s money or credit.
What does this mean for anybody who wants to buy? Get Prepared. Know Your Numbers — get your credit report, go over your finances, sit down and talk about it with your spouse or significant other. If you are a single buyer, do the same thing.
The real estate market is a cyclical market – meaning it goes around and around and you have to prepare to be ready when the cycle comes around.
Have questions? send me your questions at firstname.lastname@example.org.