Real Estate Market Upate-March 18, 2008
Wow! Thank you for all the responses I received from the first blog. I even heard from a few folks I haven't spoken with in a hundred years.
Well, here is the scoop on our market.
First and foremost, if you do not need to sell right now, do not go to market.
Now is the beginning of the time to get bargains. We are at what should be the height of our buying season (late March-April) and do you know what is happening? Nothing. The listings are not getting showings, the buyers are not coming forth, it's unbelievable. We had the Realtor awards banquet the other night, and a lot of agents were crying the blues. We won Silver, by the way, and thank you to all who bought or sold from us last year, or sent us leads, or let me manage your properties.
Well..
The banks are becoming kind of crazy. They have so many foreclosures coming on the horizon, they do not want to foreclose.
What does this mean to you?
You can now start to snap up some homes for less than the people owe, with some very favorable terms. You would want to either live in or rent these homes, they will not be good for quick resale value. WHY RENT? As folks are losing their homes, they need a place to go, so therefore rental rates should be going up. Let me know if me or Fabiola can help you buy one of these bargains. You know we don't mind getting paid.
Okay, I apprieciate the questions some of you asked. I commented back but in reply form. Next time I will use the main blog to comment back, then others will see it quicker.
Thanks. I'll do it again in a few days.
Dan Curran