A BOTTOM IN CERTAIN HOUSING MARKETS???
National Association of Realtors released August housing numbers today. Although existing homes sales fell (again) by 9.5% compared to this time last year, there is positive news.
In the Midwest existing home sales ROSE by 0.9% and in the south, by 0.5%. This is not a large number, but it does signify a turn-around. THIS MEANS THAT MORE HOUSES ARE SELLING.
I can tell you, as I know someone who has been buying and selling foreclosures, pre-forclosures, and HUDs for the last two and a half years in the Greater Columbus Area, home prices are not falling much more. One year ago, for example, a HUD listed home at 120k would easily go for 70k. Now, they are moving at 110-112k. He has had several buyers who wanted to send COMPLETELY low-ball offers and are losing out on alot of deals. He feels that the Columbus market has either bottomed or is close to the bottom and may be in many other places in the Midwest and South as well, according to the August sales figures.
Why do I share this information?
because, NOW IS THE TIME TO BUY. DONT MISS THE BOAT! Prices have fallen! Donald Trump is buying like crazy, so is Warren Buffett, and SO SHOULD YOU!
When others are scared, be aggressive. Those who are afraid will miss this greatest time to buy a home in the history of the country.
Alright folks! Talk to you again soon.