We’re still hearing how the market has tanked. The media loves to present the doom and gloom. We are experiencing the natural cycle of a market - of course we couldn't have maintained double digit appreciation forever. Greedy lenders (coupled with ill-informed borrowers) and overly aggressive builders didn't help either - it was like a perfect storm for the market to slow.
Tuesday, February 12, 2008
The State - of Real Estate 2008
We’re still hearing how the market has tanked. The media loves to present the doom and gloom. We are experiencing the natural cycle of a market - of course we couldn't have maintained double digit appreciation forever. Greedy lenders (coupled with ill-informed borrowers) and overly aggressive builders didn't help either - it was like a perfect storm for the market to slow.
We’re still hearing how the market has tanked. The media loves to present the doom and gloom. We are experiencing the natural cycle of a market - of course we couldn't have maintained double digit appreciation forever. Greedy lenders (coupled with ill-informed borrowers) and overly aggressive builders didn't help either - it was like a perfect storm for the market to slow.
No Illusions. The truth remains that this could be the best time in years to buy home – interest rates are lower than they’ve been in years and home prices are very competitive. Have things slowed down? Absolutely, it has definitely shifted to a buyers market. However there are great opportunities for a buyer looking for a first home and a seller could come out well ahead if they are looking to upgrade. The money saved on a discounted new house could make up for any reduced profit earned on the sale of a current home.
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