real estate folks and articles....currently small setback...prices will continue to rise in a year or so...etc, etc
economists and others...not so rosy picture...the bubble will burst anywhere from 20-50% drops
i can see realtors lying, since they need to make a living and would rather have potential buyers not wait, and prevent their commissions from falling in the mean time
whats your thoughts?
2007-01-27 17:15:30 · 6 answers · asked by Nick2006 3 in Business & Finance ➔ Renting & Real Estate
as a home owner that is selling and an investor who is buying i will confess that the market has picked up greatly. for 2 months we had no one wanting houses and now we are getting a large group. some say it is because prices have hit bottom but from where i stand i see it differently. people are actually refusing to lower the prices of the homes they are selling and in turn pulling them off the market. this means buyers have less homes to choose from which is now driving those prices back up.
2007-01-27 17:31:51 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Just because the national headlines seem grim, not every area is being affected. Real estate is truly a local business driven by local market conditions. Ask an agent in your area for information about the local market....backed up by facts from their MLS. They can pull this information easily. What was the average home price for that MLS last year? 2005? 2004? How has the days on market been effected? What is the list-to-sell ratio for the area?
What is happening in San Diego and Detorit has nothing to do with what's going on in your area! (Unless you live in one of those cities, haha)
2007-01-27 18:28:32 · answer #2 · answered by Rachel B 1 · 1⤊ 0⤋
It also depends on the local market - look at hotel_clair's answer.... it's the exact oposite in San Antonio. Buy a house for $180k. Mortgage is $1,750. You can rent that house out for about $1,000 to $1,250. To me, that's not good. There is currently a glut of vacant, never been lived in houses in San Antonio, and the asking prices for rent have been plumetting for several months now - I expect foreclosures to be on the rise in a year or two.
2007-01-28 01:39:01 · answer #3 · answered by teran_realtor 7 · 0⤊ 0⤋
speculators get burned all the time. investors, on the other hand always win in the long run. so make sure you are not greedy for a quick buck and you will be okay.. buy something you can afford, don't get carried away by sweet talking salesman..
2007-01-27 18:03:41 · answer #4 · answered by rojak_7 3 · 0⤊ 0⤋
same with yahoo answers.....you will get 2 types of answers....current sellers who are similar to realtors in their agenda...and buyers, who read the impending crash articles....as a homeowner in carlsbad ca, i am witnessing a 20% decrease from 2005 peaks...it will continue to go down in my opinion...
2007-01-27 17:16:43 · answer #5 · answered by Robert P 1 · 0⤊ 0⤋
http://www.breakingbubble.com/index.htm
The name says it all yet check out why. You are right in know that Realtors have a reason to lie or keep there head in the sand.
2007-01-27 19:42:11 · answer #6 · answered by Anonymous · 0⤊ 2⤋