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General Area in 54304 : Real Estate Advice

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Fri Mar 25, 2011
Scott Epstein answered:
Obviously every area is different as there are some areas that have had double digit growth over the past year. However, there are a few reasons why there is not going to be a buying frenzy. First, with all of these foreclosures and short sales, your buyer pool is much smaller than it used to be. Second, there are a lot of people that would like to buy a different home, but they need to sell their's first. Third, there is so much inventory out there right now that even if there was a buying frenzy, I'm not sure it would even put a dent in the amount of homes for sale b/c other's would see that and put their home's on the market. Fourth, even though interest rates have remained low, it is more difficult to qualify for a mortgage these days. Add that to people getting laid off and energy prices going through the roof and you could see why homes aren't selling so fast. ... more
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