Timing the market to your advantage. It is what buyers and sellers dream about. It was what buyers and sellers once bragged about at cocktail parties and barbeques – the stuff of legends and get rich quick schemes. Well, we all know how that story ended. So, why have the conversation at all?
Well, timing the market to your advantage is still a possibility. At this point, we are all looking for the bottom of the market and the turn upward – it may have arrived.
Reading through Diana Olick’s Reality Check on CNBC.com, I am starting to see positive signs pushing through the bad news like the returning perennials in my garden. An article of April 28th referenced increases in pending home sales. A second late April article talked about The National Association of Home Builders referencing a report that the remodeling index “rose to the highest level since 2006”. And, an early May article talks about an increase in mortgage applications reported by the Mortgage Bankers Association. The increase is credited to the drop in mortgage rates.
Couple that intel with the news that in the last month, 107 properties have sold in Cambridge MA, 68 properties have sold in Arlington MA, 42 properties have sold in Medford MA, and another 57 properties have sold in Somerville MA, need I go on?
I am not a soothsayer, no crystal ball here, but if I were a betting woman, I would bet that the market has turned and the time to time the market might just be now.
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