Strong sales continue

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Real estate has been strong in Springfield for the past 50 years. And 1999 was a record-setting year in home sales. |ret||ret||tab|

Here are a few of the indicators that point toward a great year in Springfield real estate:|ret||ret||tab|

Low unemployment rate. Stable employment means new prospects in the housing market. But it goes beyond that. The activity of these new buyers actually has a domino effect that stimulates the market for everyone. |ret||ret||tab|

Low inflation. Inflation is the key to whether strong home sales will continue.|bold_on| The Federal Reserve must have restraint before raising short-term rates to curb inflation. However, the more stock market investors become confident that inflation will remain low, the more likely they are to bid up bond prices. This, in turn, drives mortgage rates down. |ret||ret||tab|

Interest rates stable. Interest rates may drop even further in late 2000 as we approach election time (election years are usually good for real estate). Lending practices are also more flexible than ever. |bold_on||bold_on||ret||ret||tab|

A rental boom. Yes, even the growth in the rental market is good news for home sales. These renters attracted to the area by employment opportunities will be ready to become homeowners faster than you can say "security deposit."|ret||ret||tab|

Technology. Buyers can now view homes in Springfield online at |ret||ret||tab|

|bold_on|www.realtor.com, |ret||ret||tab|

the largest real estate site in the United States. One can seek properties in nearly any location, any time of the day or night. By midsummer, the Greater Springfield Board of Realtors will also have a Web site. |ret||ret||tab|

New technology on the horizon allows virtual tours that show more than a photo of a home the buyer gets a 360-degree view of the home interiors and the neighborhood. Even loan approvals are faster, at three or four days instead of weeks.|ret||ret||tab|

In the new millennium, aggressive agents will use multimedia listing presentations, sending instantaneous relocation information, and offering virtual tours, more marketing exposure of listings, and video conferencing by the end of 2000. |ret||ret||tab|

With a wealth of information now in the client's hand via the Internet, informed consumers will be making more intelligent choices on finding an agent to accommodate their needs. |ret||ret||tab|

|bold_on|(Paul Dizmang, CRS, is president of the Greater Springfield Board of Realtors.) |ret||ret||tab|

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