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The New Decade Begins January, 2010 – It’s hard to believe we’re beginning a new decade. It seems like just yesterday that everyone was talking about Y2K. So, as we begin the new decade, what’s the outlook for real estate? One of the great things about real estate is that there are always people who need to or want to sell, and there are always people who need to or want to buy. According to most economists, 2010 is expected to be a lot like 2009, if not a little bit better. So where does that leave buyers and sellers? Other than the very bottom of the market, we continue in a market that most would call a buyer’s market, meaning that it favors buyers more than sellers. But sellers looking to re-purchase can often fair very well. Opportunities are strong for buyers looking to expand their real estate holdings. Second Homes are a real bargain and the tax credit is helping activity. Many think that the commercial real estate market will continue to erode in 2010. The other big story is Short Sales. Many think that 2010 will be the year of the Short Sale. I’ll talk more about that in my next Market Watch. Until then, please consider me your resource for real estate. If you have a real estate question, I’m here to help. If you know of someone who has a real estate question, I’d like to help them too. I look forward to talking with you soon. All my best as you begin the new decade! As always, click on the links to see trends for your area. For a detailed analysis specific to your property, please give me a call. Tucson Area |
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