I’ve noticed a big increase in the amount of online traffic, and buyer showings, on my property listings lately. I’ve also received offers on three of my property listings in the last 2 weeks (one property received three offers), so I can only conclude one thing: the public is FINALLY catching on to the fact that the current property prices and interest rates are the best that they are going to be, so it is now or never.
I’m also starting to see more and more good economic news, as well as numerous articles about how it is actually cheaper in the long run to buy vs. rent, predictions that 2012 will see a much more robust real estate market, and predictions that the area will see significant population growth in the coming years. We are also seeing very high demand for rentals in my local market, so that is a good signal to potential investors.
Luckily, the Houston area never saw the huge real estate bubble that many of the other parts of the country saw (particularly CA NV MI FL), so even though our local home prices did fall, they did not fall anywhere near the amounts that those hardest affected areas saw. We have also seen a relatively small percentage of foreclosed properties. The foreclosure percentage in the areas that I specialize in has been in the low single digits.
January and February are typically the slowest months of the year for real estate, but I’m keeping my fingers crossed that all of these good signals are a sign of what is to come.