For many real estate investors, these past several months have brought a welcome sigh of relief as homeowners have come into the market in truly satisfying numbers. In many parts of the country the steady downward slide in prices has tapered off and we have been seeing what may be the bottom in terms of further price declines… or NOT!
Are Some Hyping Up the Real Estate Market Too Soon?
The numbers throughout the Summer have been promoted with great fanfare… the Schiller-Case Index and National Board of Realtors proclaiming that prices may have bottomed out and the worst is over. Great news if you can believe it!
While I am delighted that prices have stabilized and even increased in some markets and that home sales over these past several months have been solid and even matching sales volumes from 2005…I have been troubled and what I haven’t been able to put my finger on is this…
With all of the homes going into foreclosure, when will this inventory start to pull this “current” housing recovery down? This Bloomberg article is not good news… and suggests that we have a long way to go before all of the current and projected foreclosed inventory can be absorbed.
So the million dollar question is this… How long can lenders continue to hold their REO inventory?
We’ve all heard the saying that opportunity only knocks once.
Joshua Dorkin
Charles Feldman
Ted Karsch.
Who Can Turn The World On With Her Smile? Would You Believe, A Real Estate Agent?
by Charles Feldman | August 26, 2009She’s smiling again.
Now, grant it, this might not seem like much to you, but, trust me, this could be the biggest sign to date that the real estate market is finally starting to turn around…if only a bit.
She, is a real estate agent who has been selling units in my Los Angeles building for maybe five or more years now.
In recent years, since the recession set in, her visits, with possible buyers in tow, became fewer and farther between.
And, when she did show up, the expression on her face made her look as if she had just drank a powerful laxative for breakfast. Yeah, that bad.
She apparently wasn’t selling….but neither was anyone else. How she managed to even go to work in the morning is beyond me?
And then things began to change . . .
If she weren’t a real estate agent, I would have thought her glow suggestive of….well…..you know….we’re all adults!