Mary's 2007 Housing Market Forecast

The news media’s obsession with the housing slump is not affecting every market.

In the some of the areas RE/MAX Prestige has offices: Chelmsford, Billerica, Westford and Tewksbury, there were more single family sales in 2007 than in 2006. Our larger cities, Lowell and Lawrence definitely had fewer sales, but those cities have been hit harder with foreclosures and short sales.

I am very optimistic about this year’s market. With the Feds dropping the rate .75%, there should be more buyers once the rate drop trickles down to home mortgages. Some people think that home prices will drop lower, but the only way they’ll know the market has bottomed out is once they see the prices rising.

Keep an eye out this month on the Lowell Sun. They are doing an article featuring RE/MAX Prestige and our success. With all the media hype about the market down turn, they wanted to know why RE/MAX Prestige has had the best year ever. It was exciting to see that the Boston Business Journal has rated our company “The Fastest Growing Real Estate Company in the North East”. Apparently, our marketing materials and innovative ideas are paying off. I know that 2007 was a great year for me and with some closings coming this month, I anticipate a great year ahead.