Last week, Sullivan Multi had six closings, something that has not happened in a very long time. Needless to say, it's a welcome change of pace. We have been touting the coming of good things for quite a while and it now seems as if good things have indeed begun to happen.
Single family brokers have been experience a uptick in business since the start of the spring market. According to most of the brokers we know, that uptick is a direct correlation to 3 main factors: improved sentiment among the public, low interest rates and the $8,000 tax credit.
While we are busier than before, I am still surprised by the lack of young, first time buyers looking to start their portfolio by purchasing a 2, 3, or 4 unit utilizing these incredible tools available to them.
Don't get me wrong, I understand times are still very tough for many people, and that can cause folks to be extra cautious. However, to paraphrase Warren Buffett, the key to success is to be cautious when others are buying and be buying when others are cautious.
The bottom line: While it is encouraging that activity has increased, I would LOVE to see some more first time buyers taking advantage of the opportunities out there!
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