The Three Prong Spear to Housing

I visited a friend over the weekend and he asked me what is up with real estate? In fact he posited that, "aren't we at the bottom?" That was interesting that he would think that.

I told him that my unscientific reasoning is that:

• The real estate market got way past rent value
• There are way too many agents
• And most importantly credit is too tight

My ear out there tells me that the buyers are wanting to buy. I know this from my client traffic, and lead counts that are showing the highest numbers in a long time. And in some cases they are higher than ever.

Either the lending will loosen up, or you must learn how to get creative.

Comments

[Landflip]

Unfortunately I feel that things are going to get a little worse before it gets better. However, I do agree with you about people are getting ready to buy. I think some have been sitting on a chunk of money waiting for foreclosures and prices to drop even lower.

[Joe Boylan]

I work in Colorado Springs. We are seeing pockets do well (under $200,000). I agree that we are building a lot of buyer demand. Probably the most interesting observation is that most lenders I talk to say they have money but not many buyers!

Joe Boylan

http://www.springshomes.com

[Cape Girardeau Missouri Real Estate]

Around here the market is OK. We did not have the run away prices that many area experienced. Thus the price correction are not hitting us that hard. The biggest problem we have are the tight credit and the media. The paper keeps printing scare stories from the real estate markets coasts.

[wbgibbons]

The last two points:
There are way too many agents
And most importantly credit is too tight

will be normalizing over the next year. the fist point:
The real estate market got way past rent value

not so sure.

Perdido Key Real Estate
http://www.gibbons-realty.com