If Only....
June 19, 2012
It is beginning to look as though our real estate market is making a turn around. For buyers and sellers who have been sitting on the sidelines, it may be time to enter the market. Sellers who recognize that prices are probably at least thirty percent lower than they were in 2006 are seeing offers come in very close to a list price if not slightly higher. For sellers entering this market, pricing is the key to selling.
Buyers entering this market must recognize that looking at a property and taking a day or do before deciding to make an offer may find the property has sold.
While prices are do show any substantial up-tick, they clearly are showing some firmness.
If the shortness of homes on the market continues, prices may be pushed due to the economics of supply and demand.
The "shadow inventory" that has been mentioned for well over a year has not yet materialized. I am one on the people who believe that the banks flooding the market with repos may never quite occur.
As we reach the halfway point in 2012, it will be interesting to watch what happens in the second half. We may in fact be in the halfway point of the ten to 12 year real estate cycle.
It is beginning to look as though our real estate market is making a turn around. For buyers and sellers who have been sitting on the sidelines, it may be time to enter the market. Sellers who recognize that prices are probably at least thirty percent lower than they were in 2006 are seeing offers come in very close to a list price if not slightly higher. For sellers entering this market, pricing is the key to selling.
Buyers entering this market must recognize that looking at a property and taking a day or do before deciding to make an offer may find the property has sold.
While prices are do show any substantial up-tick, they clearly are showing some firmness.
If the shortness of homes on the market continues, prices may be pushed due to the economics of supply and demand.
The "shadow inventory" that has been mentioned for well over a year has not yet materialized. I am one on the people who believe that the banks flooding the market with repos may never quite occur.
As we reach the halfway point in 2012, it will be interesting to watch what happens in the second half. We may in fact be in the halfway point of the ten to 12 year real estate cycle.
posted by shirley harry at 8:32 AM
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