Wow it’s been too long!
December 21st, 2007
I have to say it has been awhile since I have written in my blog. The Fall flew by and real estate in Stowe continued to sell which shows that Vermont is somewhat insulated from the rest of the country. I thought you might find this article interesting. It gives a great perspective. I hope ou all have a wonderful holiday and the best news of all is that THERE IS SNOW IN STOWE!
I recently came across this article by Bernice Ross, it gives an outlook on Real Estate in 2008. I thought I would share it with you. Please read on…
Outlook for Real Estate in 2008
In all the years I’ve been writing this column, I have never received such an outpouring of response as I did from the two November articles on how media coverage of negative housing news is hurting our industry.
In spite of gloom and doom of recent news reports on the state of the nation’s housing, there is plenty of good news, the most recent of which comes from the National Association of Realtors.
Laurence Yun, the chief economist for NAR, had plenty of positive news for Realtors at last month’s conference. Yun attributed much of today’s subprime mortgage problem to greed. Wall Street wanted the 10-12 percent return that subprime mortgages yielded as opposed to the smaller returns from more traditional mortgage products. His take on the Wall Street types: “They gambled. They lost.”
Yun’s outlook for 2008 sees a shift from greedy speculators to serious homeowners. 2008 will be a year of opportunity where there will be serious, healthy business. Furthermore, Yun predicted that the market returns to normal by 2009. (more…)