You may call the New York Times and alert them; I'm sure they will want to know.
Millions of people are sitting on the fence, waiting for ME.
Economists across the Country are sitting on my every word.
Metro Goldwin has asked me to STAR.
Too bad I can't shoot under PAR.
Unfortunately for you plebians,
I have decided to withold my favors until at least six months after the blessed occassion;
That way you'll know that I was right!
What caused all this mess that we are experiencing today was abnormal. Although, it was normal at the time. Currently REO and short sales are normal. Our current economy is abnormal. What normal are you referring to in 2013 or mid-2014?
Happy funding, Rudi
I would agree with most in regards to what we will see in the near future, but I would say REO's, as we know them now, will be gone and the "New" Short Sales" revolution will begin. That will last until Americans are able to "Purge" themselves of debt related to their homes, and rebuild their financial futures. How long? Wow! I wish I had that answer, but I would hazard a guess, it will be some time. In the interim, our Clients are Buying and Selling in Long Beach and OC as if it's a great time in Real Estate, and we love them for that!
Drew, a "Deal" is a "Deal" in ANY Market...This seems to be difficult for a lot of Agents to comprehend right now, but it is a GREAT time to be in Real Estate...
Best of Luck!
Real estate is local, so is normal. It's subjective, each location having what's normal for them. Buyers are shocked at how low prices are here in FL now b/c they were so used to high prices for many years.
If you're asking if prices are still sliding, then in my opinion the answer is YES. They are still sliding. I see it daily in my MLS. Can't argue with price reductions, right? Can't argue with numbers from closed sales, right? There are pockets in real estate in places where it's leveled off a little bit and some have had slight increases. Is this across the board? Absolutely not.
Scott Miller, Realty Associates, Boca Raton, FL
i like to eventually see a balanced market and one where foreclosures and short sales are not the predominant choice of buyers and sellers....only then will the market i feel be stable and ready for a slow but steady growth. When that happens is anyone's guess. jsut when you think it is going to get better we ahve the fiasco with some of the banks in the wya they are handling the foreclosures. So, it is an unknown and time will tell....
I think now is the best time if you have to sell, because I believe the market may continue to drop in pricing in certain areas, so why wait? But I don't have a crystal ball, so I can't say for sure. Right now as a buyer, there are great deals out there and interest rates are the lowest they've been in many years, so it is an excellent buyers market. If you were to wait to purchase, it's quite possible that interest rates will rise, even though property values may not. In which case, waiting means you will have to buy less than you can afford right now!
The past is the past, why ever would you want to look back. I agree with virigina, what is normal. I for one do not want to ever see 13% interest rates again like om the late 70's. We have what I have heard called a corrected market. Prices have returned toNormal if you will from the inflated amounts we rose to. Lenders will not lend to a borrower just because they fog a mirror, and I see nothing wrong with that. When people feel stable they will buy just as always. And that is happening right now. 2005 and part of 06 was not normal. I hope you are not looking at that as normal. If so you will have a very long wait. I believe we are exactly where we are supposed to be; and we should make the best of This Market and what it has to offer.
Prudential CA Realty