Essay #1 Rough Draft

The real estate market is unpredictable. One never knows what is going to happen the next day. The majority of the real estate market is the process of selling or buying a property. In the past history of the real estate market, it has never been stable. Either the economy is booming or failing. Yet, this year a new trend may have been started. Prices of property have dropped a little bit, but it seems like the economy has stalled at where it is. In other words, the market is going to stay put where it is for a while. Hopefully, this will allow people to start investing their money back in the real estate economy.While many people may assume the real estate economy is going through a tough time, recent studies show it is a great time to buy or even sell a home!

Although some may say the real estate market may not have a big role in the U.S. economy, in fact it does. According to Kimberly Amadeo, about.com guide to the US economy, she states that the real estate economy consists of ten percent of the entire economy. That is a big chunk of the U.S. financial system. In other words if the real estate economy is booming, chances are that the U.S. financial system will do the same. Along with that, the real estate market will determine if some people have jobs or not. Many people’s lives depend on how the market is moving. The real estate market is one of the most difficult things to analyze. It consists of several factors and aspects people have to take a look at, although there are many experts who seem like they know their way around the market. The recent predictions show the real estate economy is going to stabilize, which is fabulous news for most Americans.

Currently, the housing prices are dropping significantly from the past year, and the interest rate seems to be lowering. In an article from CNN.com it states, “The report showed that the national median existing-home price for all housing types fell 6.3%.” Common sense would dictate that because of this the real estate market should be struggling drastically. However, that is terrific news to current home buyers. Buyers can now take advantage of affordable home prices at a low interest rates. In the same article from CNN.com it states that the real estate economy has risen by two percent. This is excellent news for the entire U.S. economy. Stephanie Armour, from USA Today writes, “Yet, what's bad for sellers is good for buyers — at least those blessed with excellent credit and enough money for a sizable down payment.” As of this time, anyone who has good credit and is looking for a house can get an excellent deal, which will save the buyer thousands of dollars. If I was a buyer, I would take advantage of these fabulous home prices and the interest rates. Also a trend that I am seeing is more Americans are willing to go and look for a new home. Although they may not buy anything, it keeps the market in better shape, because it shows investors that people are still looking around. The time to buy a home couldn’t be better for most Americans.

Since the interest rates are lowering and the home prices are dropping, it may seem like this is a horrendous time to sell a home. However, my own experience with selling a home is different. I believe if the seller approaches the concept of selling a home by making a stellar presentation, developing a market plan and listing the house reasonably, it should sel0 pretty quick. On top of that, there are even some areas in the United states that haven’t really taken a big blow. Take Seattle for an instance, NWMLS, also known as Northwest Multiple Listing Service, have just released a new report this month. The report shows the housing market is becoming more balanced as the number of homes sold climb to the highest level in ten months. Also in another article from CNN.com, Ben Rooney writes, “The National Association of Realtors (NAR) said that the number of existing homes sold during May rose two percent.” The prediction is that the percentages are going to increase, and the real estate economy has “recovered.” Home sellers have nothing to fear about and should be able to sell their home at a reasonable price if marketed correctly.

The real estate economy is an amazing thing. The standard way of thinking about the real estate market these days is that the economy is extremely fragile and risky. People don’t realize how the media expands every little thing and make it a huge deal. As of right now, potential buyers are realizing that and are taking advantage of the low home prices, and the sellers are happy with the sales. The bottom line is that if the market has home buyers and homes to sell, the economy is not going to go down drastically.