An article by Reuters news service April 15, 2008 discusses the feeling among real estate professionals that potential home buyers appear to be ready to take advantage of lower home prices and attractive mortgage interest rates.
"It's too early to talk of a trend, but lower house prices and mortgage rates are bringing buyers out of hibernation, at least in some markets. Provided sellers are prepared to cut prices, buyers are willing to bid, real estate agents say."
My business partner and I certainly have seen this trend over the past couple of months. We're as busy as we have been any time over the past two years showing homes to potential buyers.
Many home buyers also are interested in learning more about foreclosed properties.
I'm don't expect home sales or home prices to start to increase anytime soon, but we might be nearing the end of the declines. Stay tuned.
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