Sunday, November 15, 2009

Real Estate Market

It seems these days that every other day the news is reporting more problems with our economy. As most of us know, the real estate market has been hit hard in the last several years. Since the tax incentive for first time home buyers, the residential market seems to be getting better; however, but most all accounts, we're not out of the woods yet. The market is covered with large numbers of foreclosures (even though this number does appear to be declining or at least not climbing as fast.) As we saw in a video this week, the commercial market is not doing well either. While many places have tried to renovate other parts of town, brand new buildings stand empty, with absolutely no revenue coming in. The "real estate guy" did make a good point, even though it seems like such a simple conclusion - everything has a buyer for the right price. Certainly, some sort of revenue coming in, even if it is not the optimum price. Every house on the market could be sold, if people (as many have) would drop the price.

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