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.