Cautious Optimism During The Spring Parade of Homes 2012
Most realtors that worked the Parade of Homes this Spring will tell you that traffic was off the charts. The models in The Lakes of Blaine saw traffic counts similar to the boom years of late 2004 and 2005. During a typical weekend, numbers of Parade goers would easily reach into the hundreds. That is crazy traffic. In The Lakes of Blaine / Radisson, Gorham Companies sold four properties which according to Gary Gorham, was an excellent Spring Preview.
Analyzing the traffic and the types of buyers that were out looking, we saw a return to the market for the baby boomers. This was a segment of society that was really hurt by the recent recession. Since the recession's onslaught in late 2005, most boomers had either locked up what was left of their money in Fort Knox, or thought more about downsizing. In The Lakes of Blaine, these boomers were out in full force. This go around, the boomers were much more realistic, and downsizing meant that they wanted less house for much less money.
In The Lakes, most buyers remained very cautious, but there was optimism in the air. People were pleased to see that the market seemed to be rallying, and that confidence had returned to the builders. The weather was fabulous, and the timing of the Spring Parade of Homes was excellent this year. Yet, as much as the traffic was excellent this Spring, the buyers are still very cautious.
The bottom line is that interest rates remain at historic lows and housing prices are at a ten year bottom. Model traffic counts are way up and people have a real interest in new construction. Real estate is on sale people! In ten years, people will either look back and say, "Wow, did we get a deal?", or they will say "Wow, I should have, could have, would have!"
Travis Sabby- Re/Max Results