Optimistic Stock Market

Optimistic Stock Market Investors Could Spill Over Into Housingby Blanche Evans
This week, the Dow Jones Industrials reached 14,000 points, testing a new psychological barrier. To put the index into perspective, think back to July 2006. Housing was widely recognized as slowing, gas prices were rising, and the DOW was straining to reach 11,000. Since then, the Dow has risen well over 30 percent. That's a good year for equities investors, who may decide that now's the time to trade up to that bigger, better home.
Right now, the picture is fairly rosy -- unemployment is held to 4.5 percent. Gas prices are stable, but set to rise, which could throw a damper on things. But if the stock market is anything like it's been in the past, we'll soon have a number of investors looking to cash out and reinvest their newfound riches.
Read the entire article published by Realty Times at:
http://realtytimes.com/rtapages/20070717_optimisticmarket.htm

Locally
We are seeing more multiple offers on listings, especially those listings priced a bit below the market.
Lenders who now own homes due to foreclosures are pricing the properties below market prices to stimulate interest and to generate multiple offers. The lender receives several offers thus creating a bidding situation which results in the “final sale price” often very close to or sometimes above the original “asking price”.
Jim Lubinsky
Re/Max Affiliates
614-766-5330 ext 119