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On the Waterfront - the Lakes Region in 2010

Region it is often about loyalty, too.

On the Waterfront

Lakes Region statistics for 2009 are coming in with gains in virtually all the categories of real estate measurement from the previous year.

The jump in sales volume was welcomed by Lakes Region realty firms and began in earnest the second half of 2009. The continued low interest rates throughout the year were a chief factor in motivating buyers, both local and out of state. That along with a price reduction in across the board of listings and a pent up level of buying interest fueled the market.

Wary as I am of predicting the future, I'd rather consult history than a crystal ball, I do feel comfortable making the following assumptions for 2010 based upon current market conditions which will support and grow the local market.

- The continued attraction to high end properties by well qualified buyers.

- Strong interest in the Lakes Region even if the recession continues.

- An expansion of home buyer tax credits.

- The stability of real estate investments compared to the stock market.

- The population shift from states with punitive tax structures.

Lastly, the thought occurs to me that when we are able to look back on 2010, some investors, buyers and those presently unfamiliar with the Lakes Region will be left only with the remorse of what if and if only and "I could've been an owner".

Jim Ferriman