And yes, sellers for the most part are unrealistic and unreasonable. That's why I haven't listed anything for quite awhile. They get pissed when they're told the truth and that is hard to take. Some still have not realized just what is happening.
Anyway, if someone is set financially they can step in and get great bargains right now, but buyers are going to become scarce because there are more and more people losing their livelihoods. That's why the foreclosure rate is so high in the area I'm in. The Chrysler plant closed down and it was the largest employer in the area. Whatever else is coming, it's not good.
Anyway, if someone is set financially they can step in and get great bargains right now, but buyers are going to become scarce because there are more and more people losing their livelihoods. That's why the foreclosure rate is so high in the area I'm in. The Chrysler plant closed down and it was the largest employer in the area. Whatever else is coming, it's not good.<.i>
If some one has the cash, it's no bargain to buy now if prices will decline further - especially to buy for investment. You would still see further declines of another 20% (from 2008 prices) and, while you could borrow at low rates, you'll lose substantial equity on the way down while you're still paying taxes and financing costs. The smarter money will wait another 2-3 years, earning something on her money, and let someone else buy on the way down, losing equity, and paying the taxes and carrying costs. So, when that buyer falls into trouble and has to sell at a loss, then the savvy investor will swoop in....