Real Estate is defined as a piece of land, including the air above it, the ground below it, and any buildings or structures that exist on the property. Real Estate can include business, and/or residential properties, and are usually sold either by a licensed real estate agent/broker or directly by the individual who owns the property. For most of the situations in the United States, real estate is a legal designation, and is subject to legislation.
Reports from the National Association of REALTORS® have shown both home and commercial property sales have fallen since 2006. The recent June slow down of existing homes sales was caused after the government stimulus expired in the second calendar quarter of 2010. The annual adjusted rate fell 5.1% from June 2010, but is still 9.8% higher than the rate from June 2009. Economists claim the market shows unusual but yet understandable swings, as buyers react to tax credits. Despite the real estate market swings, total annual home sales in 2010 are rising above 2009, and conditions have become evened out in most of the United States, which is a benefit for both buyers and sellers.
A large percentage of consumers find it hard to get through the initial transaction process due to the strict requirements of the banking industry. Depending on the region within the United States, the homes available on the market are at a record surplus and more inventory will be added due to the peaking trends of the 5 year Adjustable Rate Mortgages up through Summer, 2011. For now, the supply of homes on the real estate market is higher than most real estate agents would like to see, but homes are steadily holding their ground because lower prices have stimulated sales activity in local markets. With the combination of low interest rates, a high inventory of housing, and lower asking prices, now is one of the best times to purchase a new home, condo, apartment, or investment property.
When choosing a Real Estate company, it is important to find one that is knowledgeable about the market. The Watson Realty Corp. in Gainesville will make you feel at ease, taking you through the process step by step, explaining each one along the way. We are proud that all Watson Real Estate agents and brokers hold a REALTOR® designation through the National Association of Realtors, which means that our clients can rest assured that we adhere to strict business practices and ethical standards.