You are currently browsing comments. If you would like to return to the full story, you can read the full entry here: “At the Bottom, but Maybe Not for Long”.
I, too, am a little pessimistic about a recovery. It is true, we are seeing lower inventory, less days on market, and multiple offers, and I agree we will “drag along the bottom” for sometime. However, I am not sure I foresee much if any major upward trends in the near future. In fact, I beleive we are on a slippery slope, meaning instead of recovery, we can slide further down and away from recovery.
Why? Simply because we are not seeing much recovery on the economic front; It is costing more to live and, most important, unemployment numbers are still high. We all know “affordability” is directly related to job growth. Also, we know more forclosures will hit the market, most likley after the election, and short sales are on the rise.
Our San Juan County, New Mexico market has been exceptionally busy for the last two months. We are seeing many of the REO and short-sale properties going under contract. It remains to be seen how many will track all the way through to closing, but so many of them are pending that my low end buyers are being forced to look at a higher price point. I am not convinced that this will last, but I am enjoying the busy days and the fun of showing and selling in the moment!
Well I won’t be that pessimistic about the revival of housing market. The things have improved. The economy has shown signs o improvement. The unemployment rate that was increasing every month has took a break. And is slowly decreasing, so I think if things go in the same manner albeit slow then there might be revival of housing market.
Spring 2012 certainly “feels better” than it has for the past 4 years or so. It’s almost like someone recovering from the flu. They feel better–and sound more normal–but there is a long way to go because the market is still weak. Some private funding of mortgages would really help the situation. The demand is there, but the loan process is still very restrictive.
[...] Abandoned, Deteriorating Homes … Just Let Them Burn? At the Bottom, But Maybe Not for Long [...]
Your email address will not be published. Required fields are marked *
You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>
Use the form below to search the site:
Still not finding what you're looking for? Drop a comment on a post or contact us so we can take care of it!
All entries, chronologically...
A few highly recommended friends...