Thread: Market expectations 2009

Hello everyone!

I am just wondering what everyone's expectation for the 2009 market is. Please give comments about your local area, and give the rest of us insight on when we believe the downturn will be a turn up!

My expectations? I am in the Nashville area, and see things beginning to swing up mid summer of 2009, but we are in a much better position than many markets in the country.


Brad.

Thanks for your post Brad.

Here in the Minneapolis, MN real estate market we are seeing a lot of buying activity. Though there are currently about 26,000 active listings for sale on the MLS, overall inventory is down compared to last year.

Many buyers here, especially looking at $200,000 and under pricepoints, are finding homes with multiple offers and bidding wars.

Still a ton of short sales and REOs for sale, but we seem to be slowly "working though them."

Overall, things are looking up for Minneapolis!!!

Minnesota is heating up a little.

Retail listings are still about 30-50% over the price range of REO and Short Sales. But, much more activity on the buyer's side, and especially First Time Home Buyers are starting to look and make offers.

I think 2009 will begin to stabilize the market, as long as no huge economic shifts occur or Congress makes some more weird laws to make people not want to buy, or interest rates to skyrocket.

I think the down turn will continue but that creates a buyers market which will turn the market around,in the meantime buy rather than sell

Well in this situation is difficult to predict market movements and trends, but all I know is that mine local market, and all happenings in country have some 6mths. lag. So whatever happens in USA and world, it will come 6months after. All analysts predict that real impact of crisis is currently ongoing and that improvements will follow in next year. So that means that s*it will hit the fan in Serbia on summer.

Cheers

I dont think there would still be any positive movement for the market..in the local market also i can say the same thing..

The major metro areas in Kentucky seem to be picking up. Rural properties are still slow. But all in all, its decent.

I was think the market would pick up at the end of 2009 or beginning on 2010. But now with the stock market picking up it might be sooner.