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Old 11-06-2009, 12:51 PM
 
364 posts, read 823,378 times
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What do you think?

Is it's like cash for clunkers where the dealers made all the money?
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Old 11-06-2009, 12:53 PM
 
Location: Columbia, SC
10,886 posts, read 21,841,699 times
Reputation: 10475
No, probably not. It will likely be several years before we get to a balanced market again, much less a sellers market. This economy is largely caused by the real estate bubble bursting so it will take years to dig out the hole if you will.
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Old 11-06-2009, 01:15 PM
 
Location: Salem, OR
15,487 posts, read 40,178,438 times
Reputation: 17297
Not in my area. I have two cities in my metro area that have less than 6 months inventory overall. They are normal markets.

The tax credit has been around all year and it didn't make my market a sellers market. An extension won't make it a sellers market, IMO. What I saw was that buyers were willing to take the house with the ugly flooring because they were going to have $8,000 to replace the flooring. It helped to get some of the poorly maintained homes off the market. I still think my main city, Salem, will take a few years to get down to normal. I agree with Brandon on this one.

It just seems like a seller's market in some areas due to the large volume of foreclosures. Pricing a home 20% below market to drive a bidding war by banks may seem like a crazy seller's market, but the banks aren't pricing homes at "normal people" pricing.

It's just a messed up market with so many odd dynamics right now.
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Old 11-06-2009, 01:18 PM
 
Location: North Carolina
756 posts, read 1,647,604 times
Reputation: 289
Quote:
Originally Posted by Silverfall View Post
It's just a messed up market with so many odd dynamics right now.
It is that!

The incentive has made the low end market in the Phoenix area HOT. The cheap houses are selling fast - pretty amazing. The "second home" people have been hurt so far, but this $6500 incentive MIGHT get some of them to make a move... but to what? Will second-home folks want foreclosures? Not likely.

This is why I have hope that our home will sell.

I hope I'm not dreaming.
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Old 11-06-2009, 01:32 PM
 
10,004 posts, read 11,065,805 times
Reputation: 6298
Quote:
Originally Posted by GuyFriendly View Post
It is that!

The incentive has made the low end market in the Phoenix area HOT. The cheap houses are selling fast - pretty amazing. The "second home" people have been hurt so far, but this $6500 incentive MIGHT get some of them to make a move... but to what? Will second-home folks want foreclosures? Not likely.

This is why I have hope that our home will sell.

I hope I'm not dreaming.
This is like trying to plug a dyke with a wad of gum..
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Old 11-06-2009, 02:01 PM
 
Location: North Carolina
756 posts, read 1,647,604 times
Reputation: 289
Quote:
Originally Posted by jp03 View Post
This is like trying to plug a dyke with a wad of gum..
check your spelling; I'm not touching that one.
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Old 11-06-2009, 02:30 PM
 
Location: Tempe, Arizona
4,511 posts, read 13,525,379 times
Reputation: 2200
Quote:
Originally Posted by guyfriendly View Post
Check your spelling; i'm not touching that one.
lol!
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Old 11-06-2009, 02:48 PM
 
Location: Columbia, SC
10,886 posts, read 21,841,699 times
Reputation: 10475
Lol...
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Old 11-06-2009, 02:50 PM
 
10,004 posts, read 11,065,805 times
Reputation: 6298
Quote:
Originally Posted by jp03 View Post
This is like trying to plug a dyke with a wad of gum..
HAhaha...oh man ..I just saw that ..sorry! Nobody touch that one..lets just let that fade away
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