Nancy's crystal ball 2008
By Nancy Russell Vice President Select GMAC Real Estate

Nancy Russell Vice President SELECT GMAC Real Estate www.nancyarussell.com

Champagne bubbles from the parties are fading and we now embark upon resolutions made with great sincerity as we ushered in the New Year. It's the time when we optimistically look into what 2008 will bring us. As of the writing of this article, the Housing Industry continues to be soft and the comments made by the former Fed Chair Alan Greenspan continue reverberating around the financial markets. So as I do this time every year, I will put my prognosticator's hat on, blow the dust off my best crystal ball and let you know what to expect in 2008.

On Nov. 7, Alan Greenspan told a conference in Sao Paolo that the chances of a recession "were less than 50-50." The fact that former Fed Chair used the "R" word fueled the Doom and Gloom crowd. A recession is generally defined as a decline in Gross Domestic Product for three successive quarters. GDP, or the total dollar value of goods and services, has not seen a single quarter's decline. While the price of oil is concerning, other fundamentals like unemployment, inflation, retail sales are neutral to healthy. Also, 2008 is a presidential election year. It does not matter which side of the aisle you are on, a new president will bring forth new economic optimism.

Prediction #1 - The economy will strengthen as the spring fades into summer and we approach the presidential election.

The housing market has been bludgeoned by the media. However, market information supplied by the National Association of Realtors reveals that there are positive signs. Quarter on quarter average home prices actually edged up slightly, number of homes on the market and number of homes sold were about the same, while average days on market were slightly down. It is said that as credit goes, so goes housing. It now looks like the bottom of the credit crunch was in August. The Federal Reserve was proactive and the financial markets did not freeze. The net results were that mortgage rates trended down and are back at historic lows.

Prediction #2 - The housing market will solidify and experience growth as buyer confidence gains momentum through the year.

There are many fine and reputable real estate companies across Massachusetts. However, you will not find one more professional and passionate about servicing their client's needs as you will with Select GMAC Real Estate. From management to agents and support staff , Select GMAC provides 360 degrees of service. If you are looking to buy a house, we will find a home that uniquely fits your needs. If you are looking to sell your home, we will sell it efficiently and at the highest possible price. We are not focused on one individual transaction, but rather on the series of transactions that shapes the story of your financial growth and well being.

Prediction #3 - Select GMAC will grow its industry leading satisfaction level of 98 percent.

There has never been a better time to be a fan of professional sports than it is today in New England. Red Sox Nation is still buzzing with the World Series win and a bright outlook for the upcoming season. The Patriots are poised to go down as football's greatest dynasty. he Celtics are off with the NBA's best record and the Bruins are surging in the standings.

Prediction #4 - New England will celebrate at least one and most likely two professional sports championships!

Have A Happy New Year!

"Whatever Nancy touches turns to SOLD." Contact me at 508-753-2200 or by e-mail at NRussell@SelectGMACRealEstate. com. Visit my website for more information at www.nancyarussell. com or stop by the office located at 45 S. Quinsigamond Avenue in Shrewsbury.