Monday, July 27, 2009

July Island Thoughts

Happy 4th of July. I hope you had a relaxing Holiday spent with friends and family. As predicted last month, real estate activity is “up” on the island. The buyers seem to be more enthusiastic and eager to buy. I hope this enthusiasm turns into real sales. The Year to Date sales information provided by LINK, shows that the number of sales (24) in May is higher than any other month so far this year. Hopefully, this trend will continue and we will see a reduction in the island inventory. Once inventory is reduced, buyers will have less to choose from and competition for the remaining homes will increase. This is when we know for certain the market has turned for the better.

Interest rates have been fluctuating again this month, but are still in the mid 5% range and this is good for the consumers looking to borrow money. Staying positive in this roller coaster market is a “trait” that requires focus. I encourage you to take the media information and nightly news updates with a “grain of salt”. Also, avoid those negative “toxic” people who have nothing positive to say…they will drag you and everyone they encounter down with them. And most of all, remember that your mindset controls your activities. Stay positive. “Your beliefs become your reality so whatever you choose to believe will become true for you”.

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