Spring Real Estate Market coming early in Rochester NY

[Mark Updegraff]

Definitely way ahead of the weather!  Anyone else noticing a pent up demand for real estate early this year?  I have a feeling that prices will be up this year over last - squeezing out more investors as investor priced inventories shrink and demand grows.  In Rochester shorts are down in volume but still prevalent and there are a lot of foreclosures on the steps.  There are also plenty of Fannie's and REOs but the prices tend to be a tad to high for investors (rental rates not rising much).   They seem to be moving pretty quickly due to low market inventory unless they're in a really bad spot or totally trashed.

Stay true to your numbers and you should still be securing deals, just be ready by knowing the current market so you don't try to start off chasing the herd.

Cheers!
Mark