Agent2Agent in 11368>Question Details

Elias Borjas, Real Estate Pro in East Elmhurst, NY

How do you feel about the current market?

Asked by Elias Borjas, East Elmhurst, NY Sat May 16, 2009

Do you think the market is getting better or worse?

Help the community by answering this question:

Answers

7
Question from May 2009. Trulia, please bold the date or better yet, put it in red.
0 votes Thank Flag Link Thu Aug 8, 2013
The market has been moving very well. It may flatline for a bit if the interest rates keep climbing but it can only be expected. You know how it goes, Real Estate works in cycles and we are currently going around the better part.
0 votes Thank Flag Link Thu Aug 8, 2013
Elias, here in Tampa Fl we are seeing an extremely strong market in the below $200K market in sfh and below $100K in condos. Prices are no longer in free fall. The 200K to 600K is showing increasingly better vital signs. Above 600K, with the exception of big water view waterfronts, is DOA.

A real looming concern with banks imposing exceptional insurance requirements on mortgage holders. These uncontrolled and bank imposed costs to the consumer is a big red flashing light that the banks have found a new game to play to augment their cashflow at the expense of the homeowner or potential owner. These currently unregulated costs, plus assessments driven by defaults on HOA and maintainence fees, and critically underfunded home insurance companies pose an increasingly complex situation even with a willing buyer and seller.

It looks like a house of cards that can come crashing down by actions of banks, insurance companies, euro fluxuations, job creation, interest rate increasing, hurricanes, red tide, BP oil getting into the loop current or the ending of the shuttle program. Other than that,,,things are going exceptionally well!

Navigating through these troubled waters requires focus, resources and alternatives for each situation. It is a truly exciting time to be in real estate. Take a look at my just published book "100 Days of Summer 2010" a 30+ page area activity guide for N. Pinellas county in Florida. http://www.mydunedi.com
Web Reference: http://www.MyDunedin.com
0 votes Thank Flag Link Fri May 28, 2010
The market is still overpriced. Europe's financial woes have sent money here as investors flee to safety. That has driven mortgage rates lower in recent days. Since interest rates are so low anyone wanting to buy a sell in 3 years or more is likely to get a very unpleasant surprise when they sell. As interest rates rise buying power will drop. A 2% increase in interest rates will take away 23.9% of buying power. That means house prices must drop by about 1/4 for a buyer to buy the same house for the same monthly payment. I do not see incomes raising that much higher. Not in the employment environment we have today.

The market is getting better. Home sellers are dropping prices, a large percentage of buyers already bought or are not qualified to buy, many who could buy fear their job will go away and will not buy. That sounds like a great improvement to me as prices will lose the bubble pricing that remains today.
0 votes Thank Flag Link Fri May 28, 2010
This is the best Market since 1971 as far as affordability for a buyer in addition low interest rates should be a better incentive than the tax credit. Home owners who are thinking about selling should do it now to protect the equity in there investment.
0 votes Thank Flag Link Fri May 28, 2010
Fantastic.

There is more money to made than ever before.

Less agents and lots of properties to be sold.
Web Reference: http://uvpinc.net
0 votes Thank Flag Link Mon May 18, 2009
Trending better in my sales area.
0 votes Thank Flag Link Sat May 16, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer