Well. if Jim "the Realtor" says it, it has to be true. Realtors are honest. California, Nevada, Arizona and Florida are leading the pack in foreclosures, and the last 3 months have shattered records in that regards. The high end of the market is getting crushed because Jumbo loans are nearly impossible to get right now.
"They're tired of waiting, and if the deal seems good enough, they're going for it." I would take this only if they are serious buyers and are specifically looking and seriously wanting to buy soon. In that case, 20% off is still pretty nice when you need a home technically "now." Other then that, they should keep waiting. $8K is nice, but it's not a savings if it doesn't work into your budget and what you can feasibly afford.
Iâve read some interesting comments on this thread and I guess all I can say is thatâs what makes a market. A few of us that are actually in the âBizâ donât seem to be so âPollyannaâ in our outlook. Some have said you can never trust a realtor, well trust this: 1. Jobs, it takes a job to by a home these days, howâs that going? 2. Inventory, is being artificially suppressed (thankfully), will the banks be able to keep this up when commercial defaults begin? I doubt it. 3. What happens when the FED raises rates to prop up the dollar? Hint, it wonât be good. 4. Lastly, Cramer has called a bottom in the housing market. Certainly the greatest contra-indicator of all time. One final thought; to the one or two idiots that say the government should just stand back and let the whole damn thing collapse, please tell me youâve never reproduced.
Sold By Owner....Sold a 2/2 1800sqr nicely appointed with only tandem parking and no owners closet in Sherman Oaks, California this weekend. 9bids ...listed at $725 accepted $825K no view. On the market for 4 days.
From an Investors standpoint ....Lemme tell ya brother they are lining up around the block for 800 scores and money in the bank.
As a feminist pig decrying the loss of freedom in permitting aborted children to live, you applaud a mimimal market segment while negating the overwhelming majority. You resemble a media pig.
Massive RE bidding wars are going right on in some parts of L.A. County right. Not in Beverly Glen, not in Stone Canyon, not in Beverly Park and not in Encino Park. But in other places right now people are killing themselves to buy and buy now.