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Unemployment is still rising, which means we will have more foreclosures, which will result in more downward pressure on home prices. In a word, "Yuk!".
I see tons of homes being sold in two counties over from me and coming this way. Realtors in my area say the market is picking up here and I also saw two homes near the price range of my home: one just sold and one is under contract. These would be my comps. Makes me happy.
I see tons of homes being sold in two counties over from me and coming this way. Realtors in my area say the market is picking up here and I also saw two homes near the price range of my home: one just sold and one is under contract. These would be my comps. Makes me happy.
Where exactly is "here"?
I'm in Charlotte, NC, and my realtor said there is very little action, with nothing really moving and not much in the way of new homes coming onto the market . . . in a word, "stagnant".
We have around 11 months inventory in Salem with most of the smaller metro towns close to 6 months inventory, and one has only 4 months inventory. Our market is moving in the right direction, but we had 12% unemployment here and I expect those foreclosures to hit the market this fall.
Buyers are snapping up the deals and investors are out in force here.
Here's what happened a few weeks ago. I see a house I like come on the market. It's listed as a short sale for $499,000 I think, maybe a little less. This house would have sold for over $700K during the boom. I tell my husband to call the realtor. The realtor tells him he can't show him the house, it already has multiple bids on it, the highest one being $570K right now. He also said those low prices are just "get you in the door" advertising.
My utopia is people learning to live within their means for a start.
Cleaning up their credit and stopping wasteful spending.
IF they want to buy a house, qualify on one spouses income...
Instead of trying to get approved for some huge amount, where they have little to no downpayment, aim for saving 5, 10, 20 % to use as a down on a less expensive property. 4 walls, a roof, a floor..who ya trying to impress, it ain't rocket science.
And for HGTV to get a new competitor call GRTV, Get Real TV that doesn't sugarcoat the market and blows up granite, stainless and neutral cans of paint at the end of every show
My utopia is people learning to live within their means for a start.
Cleaning up their credit and stopping wasteful spending.
IF they want to buy a house, qualify on one spouses income...
Instead of trying to get approved for some huge amount, where they have little to no downpayment, aim for saving 5, 10, 20 % to use as a down on a less expensive property. 4 walls, a roof, a floor..who ya trying to impress, it ain't rocket science.
And for HGTV to get a new competitor call GRTV, Get Real TV that doesn't sugarcoat the market and blows up granite, stainless and neutral cans of paint at the end of every show
Ohh...Yawn....did I doze off...what did I type??
well a girl can dream can't she?
Can I borrow GRTV for a blog post? I LOVE it!
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