Happy Halloween?

A couple of the agents in my office forwarded this photo onto me which I thought was worth talking about!

The caption in the email below the photo said, "Halloween is going to Suck this Year!"My initial reaction was to chuckle but I also realized with the economic times we are living in there is some seriousness to the intended humor.

So how do foreclosures factor into the market? Each area is a bit different giving some true meaning to the phrase, "Every real estate market is local." In most neighborhoods the photo above does not even come close to representing a common street view. That being said, unfortunately there are some pockets within neighborhoods that are vaguely reminiscent. So do we have a foreclosure problem that is running rampant? No, I do not believe we do. Will we see some more foreclosures over the next year or so due to not only the economy but also questionable and illegal lending practices that have occurred in the recent past? Yes, I believe we will.

These are some interesting and some would even say "scary" (I thought you might like that Halloween reference) times we are living in. On the other hand, there have been some very positive indications lately that the housing market is headed in the right direction and many believe that a re-energized housing market will lead our country out of an economic slump. I was talking with several of the agents in my office the other day and one of them who has been in the business for 30+ years summed up the market like this:

"These have been some of the most unique and challenging times I have ever seen in this industry but at the same time none of us will probably ever see a better time for buyers. Usually if we see low prices we see high interest rates or vice versa. Right now we are seeing a fantastic inventory of homes, great prices, and great rates all at the same time. Investors, first time homebuyers, and move-up buyers should all be taking a careful look at the opportunities in this market."

I couldn't have said it any better myself. What a great time to be a buyer or even a seller who has lived in your home for a while and is looking to improve your quality of life. And as far as mortgage money goes, there are ample programs available to buyers right now.

So how will this trick or treating season turn out? Fortunately I saw a news cast last night talking about a very active Halloween shopping season. Despite a few vacant homes, it sounds like those ghosts and goblins will have a very scary Halloween after all!