Do you think that the housing market is near its bottom?

Asked by raqman, Henderson, NV Fri Apr 6, 2012

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8
Bill & Fran…, Agent, Henderson, NV
Fri Apr 6, 2012
There is no way of knowing until you look back and see that the market is moving up. With that said our housing inventory back in Oct. 2007 was 29,000 homes. As of today we have 5,089 single family homes for sale. We are seeing in some neighborhoods prices increasing because of low inventory and buyer demand. This year unless the banks release inventory into the general market( which they are not - they are selling bulk sales to institutional investors) then this appears to be the bottom.
0 votes
Steve Quinta…, Agent, Albuquerque, NM
Fri Apr 6, 2012
Here is a link to federal figures for the Las Vegas area. http://www.fhfa.gov/Default.aspx?Page=216&Type=compare&a…
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Donna J Nutt…, Agent, Las Vegas, NV
Fri Apr 6, 2012
Greetings Raqman,


From my point of view we are off the bottom and on our way up. Our inventory is low, there are multiple offers on all the homes I have been putting offers in. I cannot predict the future about the market. I do know today many of the homes today are selling for more than what they are listed for.


Donna J Nuttall
Principle Realty Advisors
702-375-2069
donnaslasvegashomes@gmail.com
0 votes
Gary and Nan…, Agent, Stuart, FL
Fri Apr 6, 2012
We're seeing lots of indications that our market has bottomed out. First, local inventories of homes and condos is significantly lower than the same time last year. This means that foreclosures and short sales are selling quickly and are not "flooding the market." If you wish to buy a foreclosure in our market, you'd better have cash and be willing to pay full price or higher. Otherwise, you may be wasting your time. Second, clean, well-priced homes are selling quickly. If sellers are realistic and price homes competitively, the homes sell in a short time. The homes we see sitting on the market for longer than four months are almost always over-priced for the current market. Third, we are hearing directly from buyers who believe that the time to buy is now. Many of these buyers have been waiting for two to three years to make a purchase and now feel comfortable to buy.
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Francisco Or…, Agent, Orlando, FL
Fri Apr 6, 2012
The bottom has come and gone. The Orlando market is at about a 3.5 month inventory and anything under 200K has multiple offers and sells very quickly. If you are an investor, get in line sir! I can't tell you how many clients tell me that they want a "good deal" and want to invest, problem is that even if you put in an offer at full listed price, you will still get outbid GUARANTEED on an investment property. The media is always 2-3 months behind realtors in reporting the true market conditions.
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Ron Thomas, Agent, Fresno, CA
Fri Apr 6, 2012
First of all; you would not be buying "The Market"; you would buy ONE HOUSE!
If you are an Investor, your interest would be quite different; but if you are buying a HOME for your family, you should be considering the neighborhood, schools, layout and condition before you worry about the nickles and dimes.

Secondly, No one can see the bottom; possibly six months or a year later, we will be able to look back and see the recovery.

Thirdly, the Market will recover differently in various parts of the country and even in various neighborhoods: Look for the other signs of growth; construction, unempolyment and ratail business.

Good luck and may God bless
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Rick Jeffrey, Agent, Las Vegas, NV
Fri Apr 6, 2012
The housing market is off the bottom and headed up. In Clark County we are down to about 5,600 total residential units left and anything below $250K priced well is seeing multiple offers. The "Smart Money" has been flooding in Henderson/Las Vegas for some time and if you are considering buying and waiting for the bottom then it may have already passed you by.
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Rick Jeffrey, Agent, Las Vegas, NV
Fri Apr 6, 2012
Ragman- In my opinion we are already off the bottom and headed up. An agent in my office has 34 Offers on a listing. We are down to below 2 months residential inventory and the Myth about shadow inventory has already been proven false.
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