First quarter 2011

Wow! I can't believe it's been a few months since I wrote. That's terrible! I try my best to stay on top of this, but with so much going on all the time, it's difficult. The first quarter of 2011 has been interesting. We have gone from very slow to very busy, back to slow and then back to busy! It's a tough year to call. February was one of our worst months ever and March was our best month ever! Who knows! We have seen interesting movement with pricing lately. Our inventory is under 4,000 units (3875 last I checked) which means we are inching toward a normal market. When we get to 3,000 listings, it's normal! We are certainly seeing prices level out on a regular basis. Palm Bay for instance is actually starting to see an uptick in prices. Gone are the $50k homes that you could have bought last January. I had told everyone back then we were at the bottom, but most people didn't believe me. Now the big question is interest rates. We know you are interested in buying a home, but when. If the interest rates go up just 1%, that adds $200 to your mortgage. Rumor has it that our interest rates nationwide are going to go up to around 6%-6.5%. This will certainly decrease your buying power. If you are interested in talking about your needs, please feel free to call. Have a great day! Mitch