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Five years after the U.S. housing bust sent sales and prices plunging, the spring home-buying season is pointing to a long-awaited recovery. Here's the article.
Five years after the U.S. housing bust sent sales and prices plunging, the spring home-buying season is pointing to a long-awaited recovery. Here's the article.
They feel more confident.....until they go to the bank and find out that non-FHA conventional loans require 20% down these days. My in-laws have had numerous buyers-to-be come and look at one of their homes on the market only to have those people not return due to unrealistic downpayment requirements.
Busy open-houses aren't a sign of much in my view.
Five years after the U.S. housing bust sent sales and prices plunging, the spring home-buying season is pointing to a long-awaited recovery. Here's the article.
I've been noticing this for a few months in the suburb I live in. There are no houses available between 200K and 300K. Either they are run down townhomes or they are upscale houses. The blue collar houses are snapped up within a week of going on the market.
If I put my house on the market today, with the '94 kitchen, bathrooms and old carpet I would price it at about 260K which is probably 20K higher than this time last year.
Interviews with more than two dozen potential buyers, sellers, brokers, Realtors and economists suggest that confidence is up and that sales will move slowly but steadily higher.
How could 24 people be wrong?
Happy days are here again!!!
They feel more confident.....until they go to the bank and find out that non-FHA conventional loans require 20% down these days. My in-laws have had numerous buyers-to-be come and look at one of their homes on the market only to have those people not return due to unrealistic downpayment requirements.
Busy open-houses aren't a sign of much in my view.
I just heard from a friend yesterday that banks are loosening up the requirements, especially if you are taking a short sale or foreclosure off their hands.
I am friends with many many realtors and loan agents. I know what is being said, but that is not the average around the whole Country.
Realtors i know and from many different cities not just here in Calif. Say, in order for anything to make a dent, we need to sell what is out there and has been out there for some time now, way too many short sales, the list does not end, repos, and so many foreclosures dominating the market.
That is not good for the economy in any way. Calif has its hot spots, areas not affected by the home criris, while others, are just a mess. Loaded and bombaded with so many foreclosures, home values for a regular listing has come down.
I read and listen to the news, but know the people i know in the industry, will not lie to me either, have some rentals i want to sell. New home sales are not what they should be. Have cash, make a deal with the homebuilder you can, if you have cash to pay.
The crisis might be moving a lot better in some areas, on a whole, i don't buy it until we get rid of the inventory of foreclosures on the market, thousands and thousands and thousands across the Country still.
Of course a bit of improvement is better then none at all. But lets be honest, there are thousands of new listings to be hit with new foreclsosures, and bank owned properties not yet released. There is already a inventory of short-sales, repos, and foreclosures, that have not sold. The surplus needs to sell off, and that has not happened yet, in so many cities aross the US.
Five years after the U.S. housing bust sent sales and prices plunging, the spring home-buying season is pointing to a long-awaited recovery. Here's the article.
South Florida market is heating up big time. When you make an offer on a place, there is a good chance the answer is that is it no longer available (under contract or better all-cash offer to beat your offer).
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