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Old 07-18-2012, 05:25 AM
 
289 posts, read 434,035 times
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The U.S. Housing Bust Is Over - WSJ.com

As per the article above real estate industry has turned a corner. Based on the recent discussion on Charlotte CD you hear a similar sentiment. When I researched and analyzed on recent home sales on popular real estate sites I see that lower segment and may be the mid segment has started showing movement. Does that indicate a revival?? I know the upper segment and the luxury segment is still crumbling but then doesnt the recovery start at the very bottom. The economy is no more encouraging than what it was a year ago and recovery would be verrrry slow (just imo)

Having said all that, what would you suggest to those ready to be homeowners. After all rents are getting crazy by the day
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Old 07-18-2012, 05:59 AM
 
Location: livin' the good life
2,117 posts, read 3,536,934 times
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I think the housing market is better and may have seen the worst. I suspect as interest rates continue to rise you will see some stepped up buying. I know in my neighborhood (Brookhaven-Matthews) a number of houses have sold this summer, 3 houses on the same street went in contract in July and another house sold in 5 days sight unseen by CA couple. All the houses were in 600k-740k range. There are a few houses that have been on the market for a loooong time and I suspect it is due to being overprised and the homeowners may not have enough equity to want to price accordingly. Since June I know of 9 house sales or homes in contract, the homes went for 97.1-98,93% of listing.
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Old 07-18-2012, 06:04 AM
 
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It is a very slow recovery but a recovery nevertheless. My take is that the less government intervention, the faster the recovery...
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Old 07-18-2012, 06:30 AM
 
2,800 posts, read 4,738,175 times
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I would necessarilly say the housing has recovered...because if that is the case, then my house would not be still sitting on the market(which is priced to sell). Like the previous poster said, its is a snails pace recovery.
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Old 07-18-2012, 07:23 AM
 
Location: Wouldn't you like to know?
9,113 posts, read 15,298,270 times
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Quote:
Originally Posted by westcoastbabe View Post
I would necessarilly say the housing has recovered...because if that is the case, then my house would not be still sitting on the market(which is priced to sell). Like the previous poster said, its is a snails pace recovery.
If you have not received any realistic offers near your asking price then despite what you think you are NOT priced to sell. There is a disconnect somewhere. Maybe you or your husband are too stubborn and don't want to face pricing reality. Maybe your location stinks...maybe your realtor is not getting through to you....

Homes ARE selling....what's the reason holding you back?
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Old 07-18-2012, 07:51 AM
 
Location: Charlotte NC
11,355 posts, read 8,877,078 times
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just because a house is on the market doesn't mean it has to sell...

I'm pretty sure there is a person who sold their house yesterday who thinks this recovery is moving at a nice speed.
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Old 07-18-2012, 07:54 AM
 
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What fantasy world do you live in.....Like I said, Home is priced to sell for my neighborhood. Got the home market ready...Was careful not to overimprove the house, because that would be $$$ thrown away. And no we are not stubborn are far as the price reality is concerned. In fact we are askiing 30% less that what we paid for it. We've had on the market since Jan. of this year....
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Old 07-18-2012, 08:08 AM
 
Location: Charlotte NC
11,355 posts, read 8,877,078 times
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hopefully you will get an offer soon.

good luck.
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Old 07-18-2012, 08:24 AM
 
Location: Up above the world so high!
45,270 posts, read 86,039,386 times
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Quote:
Originally Posted by westcoastbabe View Post
I would necessarilly say the housing has recovered...because if that is the case, then my house would not be still sitting on the market(which is priced to sell). Like the previous poster said, its is a snails pace recovery.
Got to agree with Jack I'm afraid. You are not really "priced to sell".

30% less than you paid for it isn't low enough if you bought it in 2005 or 2006.

What year did you purchase?
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Old 07-18-2012, 08:32 AM
 
7,015 posts, read 9,325,872 times
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First off I really don't know what "recovery" means. I guess, it means prices are somewhat over prices of a year ago, month ago ? Who know what it means?

If it means, the march forward and the return to the "American Dream" then my crystal ball says that will take between 10 and 20 years. I'm dead serious. In the meantime people will continue to rent (not owning anything) and placing a high demand on good rental properties.

What does that mean to someone who has their house on the market since Jan.? People with good houses priced 30-50% off of what they paid. I don't know. Eight months is a long time. It took me to off load (3) houses in Clt 1 1/2 years and only sold them because I needed BIG loss carry forward for tax year ending 2012. That stratergy doesn't help a homeowner of course. What's the answer? I wish I knew. One thing I strongly believe in is my second paragraph above.
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