Market Conditions in 12549>Question Details

Mary Jo Cole…, Real Estate Pro in Montgomery, NY

What is the market outlook for the 4th 1/4 of 2010?

Asked by Mary Jo Coleman, Montgomery, NY Mon Sep 13, 2010

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The fourth quarter of 2010 looks like a GREAT time for buyers. Sellers are finally starting to realize that their houses have depreciated and are getting realistic about what it will take to sell them (lowere prices). The mortgage interest rates are currently at ridiculous lows and FHA and VA are making low down payment loans avaialble. If you have a good credit history, stable employment and documented income you are an extremely strong buyer. william-pearlman.com
0 votes Thank Flag Link Thu Sep 16, 2010
Depends on what you're talking about. Will the prices continue to go down? I think so. Are there buyers out there? Absolutely. If you work, get homeowners to realistically list their homes, then you will make money. If you overprice a property, any property, it will not sell. Many buyers are hoping/waiting for another stimulus package of some sort but with the fiscal pressures on the administration, I doubt there will be another tax credit or anything like that. But I've been wrong before.
0 votes Thank Flag Link Tue Sep 14, 2010
Hi Mary Jo. In my most humble and honest opinion? Down. All indicators show that the government programs are not working and it might just be better to let prices continue to fall. They are too high on a national average, especially in big cities. I've been writing this here for months/years, but here it was in today's NY Times:

http://www.nytimes.com/2010/09/06/business/economy/06housing…

Let me know what you think.

Scott Miller, Realty Associates, Boca Raton, FL
0 votes Thank Flag Link Mon Sep 13, 2010
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