Is the Sun finally shinning over our real estate market? I believe so

The local real estate market is showing signs of life! Finally! we are sensing more activity at open houses and sales at all price points. It does appear that home buyers are more aware of what this market is offering to them right now and they are finally taking the plunge. The $8,000 credit to first time buyers is a big pull plus fix interest rates below 5% shown all over the news is a confirmation to them that this market is turning around and if they don't buy now, they could simply miss the boat entirely. Spring time is the PERFECT time to buy a house.

I predict that as we get closer to the November 30th deadline for the $8,000 tax credit there will be a rush of first time buyers trying to get into the market, but probably they will not find by then the number of properties available to chose from that we have right now.

Here in the wonderful east shores of the San Francisco Bay, in our quiet little town of San Leandro, CA, we are seen below the $300,000 level a tremendous amount of activity. We have encountered multiple offers regardless whether these listings are bank owned properties, short sales or simple common listings. We have not seen multiple offers on the same property for years, but now they are almost the rule. Within the last few weeks we have written 9 offers on behalf of several of our first time home buyers, and still cannot find them a house. These buyers are loosing to other buyers offering sometimes up to $40,000 above asking prices.

Behind the bad news about a recession, lay off numbers up and unemployment numbers rising, there is a very active real estate market happening right now in certain areas of the country, there are great bargains out there for first time buyers and first time investors, people are taking another look at real estate as the great investment that it truly is. Investors are out there competing directly with first time buyers, perhaps they see that the number of displaced families who lost they homes to foreclosures will turn into good long time renters, these people used to be home owners and will have to wait years before they can buy again, rents will be going up as the demand increases.

As a Professional Realtor I welcome with enthusiasm these positive news, I have seen in the last few years how bad financing destroyed the American dream, put people out on the streets, broke families apart and decimated my industry. The damage done to the trust and the credit worthiness of the individual will take years to heal. But for now I am very glad the long road to recovery at least appears to be within sight.

Antonio & Alexia Cardenas, "The Realtors In Motion" Serving the wonderful Counties of Alameda & Contra Costa Counties, specially the following cities: San Leandro, San Lorenzo, Castro Valley, Hayward, Oakland. Visit us on line at: www.listedbyAntonio.com (510) 326-4263