Market Prime for Buyers Until 2008
How about some bookmark love? ::
In the Wall Street Journal, in an article titled “I'lls Deepen in Subprime-Bonds Arena", James Hagerty reminds us the the housing market is expected to be bullish once again in 2008. What does that mean though? Typically a hot market is equated as favoring the seller. What buyers don't know is that a “soft market” favors them.
So we're provided a clear roadmap with respect to the market nationwide from sources like the WSJ. It is a buyers market until into 2008.
We all know that the way to capitalize on an investment is to buy low and sell high. The if you are looking to buy a primary residence, then lighten up a bit on seeing your future home as a commodity. If you stick to being ultra conservative with respect to the bottom line numbers, the chances are good that you have bullied yourself into timing the market, or attempting to do so. It's also a good sign that you're trying to apply stock-market logic to the housing market.
It seems like I get calls on just about a daily basis of some out of town broker claiming to represent a 100-million dollar investor who wants to get something at 30%-40% below market. I tell them to go search the foreclosure sites instead. The reason? Though prices are on a downward trend, even a probate sale which was 10% below market value lasted only 1 day on the market. Good luck on trying to find something that is in the 30-40 range.
The subprime fallout has increased foreclosure rates in orange county back to a historical norm.
There is a disconnect if you're thinking that that more foreclosures mean more deals to the buyer. There is one thing about banks, they don't want to lose money. So the banks join the ranks of the sellers who are waiting on the market for the typical 90 days.
The word foreclosure does create a lot of buzz and interest from buyers who are trolling the neighborhoods, but they typically end up being disappointed that the condition of the property is not what they expected, and likewise the discount isn't what they expected.
So the market? It favors the buyers still buyers don't need to time the market unless they are investors. This is the expected dynamic through 2008. The increased rates are getting buyers into the game because their price isn't getting cheaper with the combination of rising rates and flat prices.
In the Wall Street Journal, in an article titled “I'lls Deepen in Subprime-Bonds Arena", James Hagerty reminds us the the housing market is expected to be bullish once again in 2008. What does that mean though? Typically a hot market is equated as favoring the seller. What buyers don't know is that a “soft market” favors them.
So we're provided a clear roadmap with respect to the market nationwide from sources like the WSJ. It is a buyers market until into 2008.
We all know that the way to capitalize on an investment is to buy low and sell high. The if you are looking to buy a primary residence, then lighten up a bit on seeing your future home as a commodity. If you stick to being ultra conservative with respect to the bottom line numbers, the chances are good that you have bullied yourself into timing the market, or attempting to do so. It's also a good sign that you're trying to apply stock-market logic to the housing market.
It seems like I get calls on just about a daily basis of some out of town broker claiming to represent a 100-million dollar investor who wants to get something at 30%-40% below market. I tell them to go search the foreclosure sites instead. The reason? Though prices are on a downward trend, even a probate sale which was 10% below market value lasted only 1 day on the market. Good luck on trying to find something that is in the 30-40 range.
The subprime fallout has increased foreclosure rates in orange county back to a historical norm.
There is a disconnect if you're thinking that that more foreclosures mean more deals to the buyer. There is one thing about banks, they don't want to lose money. So the banks join the ranks of the sellers who are waiting on the market for the typical 90 days.
The word foreclosure does create a lot of buzz and interest from buyers who are trolling the neighborhoods, but they typically end up being disappointed that the condition of the property is not what they expected, and likewise the discount isn't what they expected.
So the market? It favors the buyers still buyers don't need to time the market unless they are investors. This is the expected dynamic through 2008. The increased rates are getting buyers into the game because their price isn't getting cheaper with the combination of rising rates and flat prices.
