Putting Real Estate Into Perspective
Sunday, September 27th, 2009The last quarter of 2008 and the first quarter of 2009 have proved to be the weakest real estate market in the longest time. As April rolled around a glimmer of light and heightened activity seemed promising and hopeful. Deals happen when Buyers and Sellers have a meeting of the minds. Based on opinion Sellers seem more hopeful about selling their properties but buyers seem to be a little confused and are choosing to be more cautious rather than aggressive in offering the big bucks that the sellers would readily accept. They seem to be fine in paying the market value for the properties today but they don’t want to pay a premium. Real estate sales are more closely connected to the job market, lending rates, credit, and rental rates. If you can and have an inkling to, now is the time to invest in real estate. The inventory out there which encompasses a lot of properties does not appear to be increasing without the possibility of sales on the other end to counterbalance. As the inventory continues to decrease, even at a slow pace, the demand for quality real estate deals will rise. Not until the inventory diminishes to a much, much further degree, will prices start to rise. But we have to start somewhere, and baby steps are the way to go. Unfortunately, financing is still an obstacle for buyers, as banks continue to be stingy with lending. Without good credit you pretty much are out of the running. Once again cash is king. Banks are constantly changing their lending requirements and everyone involved in a transaction remains in a state of limbo until the deal closes. Short sales and foreclosures are at an all time high and dominate the market out there. So many people who invested in real estate for a variety of reasons must now get out so with a lot of time and patience many good deals are possible. Deals are happening and buyers and sellers are happy with the end transaction results. The opportunities are out there for both sides: the buyers who want to take advantage of a great deal and the seller who now feels free from financial burden and hardship. Buy, sell, rent own; look at your lifestyle, your needs, and your financial status. Assess your individual situation and let us help you make the right real estate decision for you, from your perspective, and your investment in your future.
by
Susan Koslovsky