The Market is Coming, The Market is Coming

December and January were horrible markets in terms of transactional real estate volume. I've heard this same sentiment from real estate professionals and advisors from all over the United States. However, the market is beginning to turn!

The Market Is Coming Back, Slowly!

We have seen a steady increase at Exeter 1031 Exchange Services, LLC in our tax deferred exchange transactional activity since the last week of February 2008. It was very subtle at first and we didn't want to get overly excited about the market, but it is now clear that the market is changing, although very, very slowly.

Transactional Bottom; Not Valuation

I personally believe that the January and February 2008 was the bottom of the real estate market in terms of transaction or activity. I do not think that we have seen the bottom of the real estaet market in terms of valuation, but I do think that we have seen the worst of the real estate market at this point and that buyers are now realizing there are opportunities in the real estate market and sellers have started to come back to reality and price their properties accordingly (if they really want to sell).

We still have some rocky waters to navigate through, but we are optimistic about the status of the market.