"Trust Me, I'm Lying" is not just the title of a new book about media manipulation, it's also a tactic used by agents and lenders to manipulate the housing market and get existing inventory under contract. I've lost track of the amount of times Bank of America has said they plan on flooding the market with foreclosures. I know some local lenders here that have several properties that they are holding to put on market later because appraisals came back low. Every builder ( 25+ of them) that I know has 1-20 ready to build lots that they've been sitting on for the last 2-3 years because they couldn't compete with all of the foreclosures and short sales on the market over the last few years. Some of those builders are gearing up to start new construction projects . When that happens, you can predict all of the people that wanted to sell when the market improved will start making plans to put their houses on the market. Plus, I can sit here and think of at least 10 houses that are abandoned, that the owners finally walked away from after they saved up enough money to rent something because they haven't paid their mortgages for the last 6+ months. These homes will be added to inventory as soon as banks get around to foreclosing on them. There is now, and will be plenty of inventory, so don't be fooled by claims on low inventory. If you can't find a home you want, consider buying a lot and building the home you want. Most builders can have a house ready for occupancy in approximately 3 months, sometimes less. I personally am in the process of creating 5 new building lots on one project, and 3 more on another project in Leesburg and Lovettsville area. Inventory is growing, buyers have choices, If you can't find it,build it! It really doesn't take long to create inventory!
Jeff Pearl / REALTOR
RE/MAX Distinctive
703-727-4876
jeffpearlhomes.com
jeffpearlhomes@gmail.com
Equal Housing Opportunity Provider
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