need to sell
2007-09-19 06:58:54 · 6 answers · asked by Jackson Peter Templeton Jr. 2 in Business & Finance ➔ Renting & Real Estate
It is going to get worse before it gets better. The amount of adjustable ARM's that are coming due in the next year will add to the foreclosure rate, putting more homes on the market, yet the credit crunch is on making more people ineligible for purchasing said homes. I have been stating for months that this goes beyond the sub prime market, and that housing prices which are artificially high will drop around 10%. The more I read recently the more correct my predictions have been. DO not think it will crash, but the downturn of prices is not over yet.
2007-09-19 11:27:53 · answer #1 · answered by Pengy 7 · 0⤊ 0⤋
The Real Estate Market is going in cycles. It will go up a few years and down a few years and up again. Population is increasing and so is the need for housing. I don't see the Real Estate Market crashing at all. Depending on the area you are in, some Markets will recover earlier some later.
If you need to sell right now, the only thing you really can do be competative, compare your home to other, similar homes in your area and be the lowest priced one. Buyers are currently in the Drivers Seat and they are looking for the best buy, the highest value for their Dollar they can get. Try to find a local Realtor for advise.
Best of luck to you.
2007-09-19 15:45:52 · answer #2 · answered by Monika Wilson 4 · 0⤊ 0⤋
No one can accurately predict exactly what will happen. Most of the predictions are that the market will continue to decline nationally until 2009, then they will stabilize. However, some regional markets may improve sooner or keep falling longer.
Here in South Florida, it is a real problem that is impacting a lot of people. Good luck.
2007-09-19 16:48:46 · answer #3 · answered by mcmufin 6 · 0⤊ 0⤋
NO!
The politicians will do everything they can to save the housing market.
Ben Bernanke is also willing to do whatever it takes to stop this ship before it hits an iceberg.
Hope this helps.
P.S. Remember: never underestimate what a politician will do to keep his job in Washington.If it means mortgaging our children's future then so be it, they can only think as far as the next election.
2007-09-19 20:09:04 · answer #4 · answered by Terry S 5 · 0⤊ 0⤋
It looks like it's almost at the bottom now. Could start to bounce back soon because of lowering interest rates . This will bring out more buyers!
2007-09-19 15:45:19 · answer #5 · answered by ursaitaliano70 7 · 0⤊ 0⤋
it is currently in the process of doing so!
2007-09-19 15:22:40 · answer #6 · answered by le coq géant 5 · 0⤊ 0⤋