Tuesday, October 06, 2009

Things Looking Up Down Under

Looking into the crystal ball

Every day people ask us for the “latest” on the real estate market: How bad is it? Are we busy? Have things turned around? Actually, while everyone feels the pinch in various ways, The Sanborn Team continues to perk along, representing clients, negotiating sales and purchases and celebrating when transactions close. Properties sold through probate, trust and conservatorship are affected by low prices and tight money, like all real estate, but they also represent opportunity for savvy buyers who prepare well for the market.

Meanwhile, like everyone else, we keep an eye on the local, national and international news, looking for further glimmers of hope. As this note goes to post, we see one: the Reserve Bank of Australia has just upped interest rates by a quarter of a point, to 3.25%. In an article in today’s New York Times, Bettina Wassener and Meraiah Foley comment, “The bank’s decision Tuesday to start raising rates again was made amid mounting signs that the global economy was on the path to at least a modest recovery.” That’s good news.

If you have questions about the timing of your transaction or about any aspect of probate real estate, visit our website, www.sanbornteam.com, or call us at 310-777-2858 today.