Local Real Estate Market Ready to Rebound

February 08, 2012 / Russell Legato, Residential Property Analyst

People working in the real estate industry expect business to pick up now that 2012 prices dropped to rock bottom. Realtors have been waiting for news that the start of 2012 would see a recovery in the area. One agent remarked that it is busier than it has been in decades.

Local Real Estate Market Ready to Rebound

One realtor, located in Easton, sees the market picking up. A recovery is needed since the market for residential properties has been sluggish for some time now. It has been busy for the past six weeks, which is unusual for this time of year. Talbot County is an excellent place to buy a home at this time.

There are still foreclosed houses now owned by the banks and some short sales are expected in the near future. This will slow things somewhat. Any recovery will affect the local economic situation in a favorable way.

Sellers are now resigned to getting lower prices for their homes. The banks are granting loans only to the people with excellent credit ratings. On the plus side, interest rates on the mortgages that are approved are low, making it a good time for people to buy a home and settle in the Easton area.

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