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The Pierre T…, Real Estate Pro in Jamaica Hills, NY

Is the Housing Market Actually Recovering?

Asked by The Pierre Team, Jamaica Hills, NY Wed Mar 21, 2012

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Elizabeth Morgan’s answer
Here in the Dallas-Fort Worth area prices in some neighborhoods are going up.
So iwhether or not the market is recovering, depends on what part of the country you are talking about.
We have a strong employment market, great schools & reasonable cost of living / home prices in Texas.
Dallas-Fort Worth is also has a diverse community with families from all over the globe making it home.
0 votes Thank Flag Link Sat Mar 31, 2012
Not a chance...and it won't recover until loans are readily available. That of course won't happen until buyers, in large numbers, are able to obtain credit scores that will qualify them for a mortgage. And now that the robo-signing fiasco is over and the banks have paid their penalties to the government, I suspect we will see the backlog of foreclosures in the bank's inventory be allowed to hit the market. This should keep prices down or even depress them slightly more.
0 votes Thank Flag Link Wed Mar 21, 2012
Yes, the market is recovering in New York. In our area, the banks have worked with the court system to slow down the process of foreclosures, giving the market a chance to absorb excess inventory. Investors have come out like crazy, and with interest rates so low we have a lot of activity.
1 vote Thank Flag Link Sat Mar 31, 2012
I feel like here in New Orleans things have piced up some... Not sure if its recovery or just stable.
1 vote Thank Flag Link Wed Mar 21, 2012
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