The dog days are done. All of us who make a living in real estate are anticipating the Fall Market, and hoping that there will be one. We’ve had a nice run of very positive sales figures in the last few weeks. How much of that will continue into the Fall? How much of the activity we have seen is due to the Obama Administration’s $8,000 tax credit for first time buyers? There are many unanswered questions as we look toward the end of the year.
Most writers and colleagues are unanimous that the tax credit should be at least extended past its current expiration date at the end of November. Some go so far as to advocate for broadening it to all buyers, not just first timers.
For Baltimore, a recent trade article regarding commercial property was ominous. Baltimore was listed as one of the ten most likely markets to see a second meltdown in commercial real estate because of rising vacancy rates and more inventory, without a pickup in accompanying economic activity. As September arrives, we have many questions and concerns for Autumn. Let’s cross our fingers and hope that things go better than the doomsayers expect.