Improving Jobs Market Affects on Real Estate
The jobs report was released today and showed that 165,00 jobs were added lowering unemployment to 7.5%. Just a few days ago, Realtor Magazine Released an article about the correlation between job growth and home values. The areas in the U.S. with the strongest job markets are also the areas showing the greatest improvement in home prices.
This seems to be an accurate comparison when looking at the real estate market here at the Lake of the Ozarks. Fortunately for us, this area seems to be somewhat insulated from major downturns in the economy and our local businesses have seemed to pull through this recession with a small about of damage. The same can be said of the housing market at the Lake. While it did take some damage from all the foreclosures and short sales, home values have seemed to hold steady; not increasing but only decreasing a marginal amount in most cases.
How long will this last? No one can know that for sure. Sales have increased and days on the market have decreased, giving some the impression that the market is back and along with the home prices. That sadly, is not an accurate observation. Many predictions have been made for this year for national home prices to increase and the statistics are showing tendencies of a sellers market but the fact is there is still a plethora of inventory and is most certainly still a buyers market here at the Lake of the Ozarks.
What does this mean for you. Well, if your thinking of selling your Lake home or condo this is a tricky decision to make. The best advice I can give is to call a Realtor, someone who knows the statics and can give you the information you need to make an informed decision as to whether or not now is a good time for you to sell or if you should give it another year to see if the predictions are correct. However, if you are looking to buy your dream lake front home or a get-a-way condo at the Lake- the time is now! Rates are still decreasing, there are still some great deals out there and there is more inventory than you could ever want to choose from. Either way, call me today and together I can help you make the right decision in your real estate needs.
To read more on this article, click the link below:
http://realtormag.realtor.org/daily-news/2013/05/01/strongest-job-markets-have-biggest-home-price-rises?om_rid=AAJykL&om_mid=_BRgUC0B8ySzCyP&om_ntype=RMODaily
www.lakeozarkpropertybuying.com
This seems to be an accurate comparison when looking at the real estate market here at the Lake of the Ozarks. Fortunately for us, this area seems to be somewhat insulated from major downturns in the economy and our local businesses have seemed to pull through this recession with a small about of damage. The same can be said of the housing market at the Lake. While it did take some damage from all the foreclosures and short sales, home values have seemed to hold steady; not increasing but only decreasing a marginal amount in most cases.
How long will this last? No one can know that for sure. Sales have increased and days on the market have decreased, giving some the impression that the market is back and along with the home prices. That sadly, is not an accurate observation. Many predictions have been made for this year for national home prices to increase and the statistics are showing tendencies of a sellers market but the fact is there is still a plethora of inventory and is most certainly still a buyers market here at the Lake of the Ozarks.
What does this mean for you. Well, if your thinking of selling your Lake home or condo this is a tricky decision to make. The best advice I can give is to call a Realtor, someone who knows the statics and can give you the information you need to make an informed decision as to whether or not now is a good time for you to sell or if you should give it another year to see if the predictions are correct. However, if you are looking to buy your dream lake front home or a get-a-way condo at the Lake- the time is now! Rates are still decreasing, there are still some great deals out there and there is more inventory than you could ever want to choose from. Either way, call me today and together I can help you make the right decision in your real estate needs.
To read more on this article, click the link below:
http://realtormag.realtor.org/daily-news/2013/05/01/strongest-job-markets-have-biggest-home-price-rises?om_rid=AAJykL&om_mid=_BRgUC0B8ySzCyP&om_ntype=RMODaily
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