Ann Arbor Home Buyers “The Perfect Storm”
According to Wikepedia, “The phrase perfect storm originates from the 1997 book The Perfect Storm which refers to the simultaneous occurrence of weather events which, taken individually, would be far less powerful than the storm resulting of their chance combination. Such occurrences are rare by their very nature, so that even a slight change in any one event contributing to the perfect storm would lessen its overall impact.
So what does a Perfect Storm have to do with Real Estate?
- Low Interest Rates
- Buyer Market
The recession of early 80’s, when I first relocated to Ann Arbor, the interest rates were 18%. We were lucky to buy our first home in Ann Arbor on an 11% land contract for 5 years.
Buyers now have the advantage of having plenty of houses to chose from and LOW interest rates. Ahh, the perfect storm for buyers.
May 5th, 2009 at 8:44 am
it certainly effects the estate agents, to be a estate agent in such an area has its toll.
well I moved in a new neighborhood, i was searching for property to let in central london for quite some time and i accidentally found this amazing website no agents 24 with loads and loads of information about tips for tenants, tips for moving, hips. I really like my new house. i went out for some fresh air today early morning, although i am generally not the morning person type but i have to admit i really enjoyed it.