Leading Indicators from the Trenches
I'm lucky to live in a nice middle class neighborhood with great neighbors. The neighborhood, like most in Florida, has been stricken with foreclosures, however we only have one house in foreclosure on my street. One of the neighbors across the back alley is a residential appraiser. No doubt business has been really tough for appraisers, but for the past couple of weeks his business has improved. He's had to work late to keep up with demand. Granted most of the work has been foreclosures, but we've got to digest those properties to turn the residential housing market corner.
As the residential market improves ever so slightly the rest of the market should follow. I’m not trying to predict a major market increase in residential real estate, but an uptick in the appraisal industry does mean that the residential market is trying to get traction with increased activity.
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Sep.20.2009. 14:50
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