Several reliable indicators suggest the US may be pulling out of this prolonged recession and as a result it may indeed be time to consider purchasing real estate if you’ve been sitting on the sidelines. Having said that, and regardless of what is happening with the larger economy, you’ve got to buy smart.
Some of the indicators of an improving economy include a reduction in the contraction of the country’s Gross Domestic Product. Second Quarter GDP fell only 1%, its slowest pace in a year and far less than the 6.4% contraction in the first quarter of 2009.
Other signals include the July Case Schiller Home Price index which shows moderating price decline in most metropolitan areas including the St. Petersburg Tampa market.
If we are indeed experiencing a rebound in the larger economy these next several months will be critical for those who are considering purchasing real estate but who have been sitting on the sideline. The bottom line is the pent-up demand for housing will unleash a massive purchasing frenzy the moment recovery is confirmed.
There are still incredible deals to be found, and there will be for some time, but taking advantage of these opportunities takes the skill and experience that only a qualified real estate attorney and realtor who knows the market bring to the table.
If you’re on the sidelines but are ready to get in, the time is now…contact my office directly at www.mattweidnerlaw.com for more information.
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