Economy/Credit/Housing Issues Ping List
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My stepmom is a realtor and she’s been cleaning up for the past few months (and has four more sales closing in the next 2 weeks.)
This is in central NH.
Correct me if I’m wrong, but isn’t that STILL higher than the peak of the Clinton years?
Well, I'd like to sell my house, but I think I'll wait until it's more of a sellers market. From what I see in my neighborhood, we are in the arc of the cycle of the buyers calling all the shots.
Geezzzz. I’d trust the words of the Chief Economist of the NAR over almost ANY government employee or polling group. The NAR is a good association and it’s members do good work.
I guess you have known some real estate sales people who were sub-par. So have I. I also know a few great ones and they save their clients time, effort and money.
Please do yourself a favor and refrain from demeaning an entire group (40,000+ at this convention alone) so haphazardly.
By the way, I am NOT a real estate agent.
What I’m am actually seeing and hearing, is most everyone in America that were not forced to sell, are now taking their homes off the market.
3 in my immediate area alone in the past 2 months. Was told they just did not re-list, and will wait for better times in the future. Was told this is a big trend right now.
Can’t say I blame them.
It is a excellent time to buy.
As I tell people, there won’t be an email sent out saying, “the bottom is in, buy this week”.
Builders are having to move some inventory, but that is a limited amount of homes. We are seeing a lot of activity, people with good credit and asset positions are buying homes right because they see the value.
Will prices go lower? No one really knows, the overall state of the economy will be a big factor.
LOL. What would you think of a broker who told you, "Mr. Hydroshock, right now is a good time to buy, or sell, Boeing stock."?
Meanwhile, sales of imaginary homes are expected to show a modest increase.
bump for later read.
1984 was the last economic dip in this region. It’s been boom cycle ever since but we may be about to enter another down cycle and it might be permanent. Right now nobody is selling and nobody is buying. 1994 was crazy and that is when prices started to take off. Don’t know about five years ago but that wasn’t a low by any measure.
It is affecting us now, though, because we want to sell and move back South. The home needed updating anyway, so we're doing that, taking our time to get it right, and we'll plan to put it on the market next summer. We may not get as much as we might have gotten in late 2005, but we'll still do well because it's well above what we originally paid for it, even figuring in the improvements we're making, since we're doing much of the work ourselves. We'll be competing against new homes, so we need to make it great. We're calling it 'The Conquest', because we're changing the things we've come to dislike about the house after living here 20 years, and doing things to make it just 'live' better.
LOL! Indeed!