We tend to believe every bad thing we hear. Do we believe every good thing you hear?
Here was the 11:00 news tonight -- the housing market is turning around. May banks are now pricing homes undr what a home appraises for, and now investors are BIDDING, mulitple offers on well priced home! We're talking 12 - 21 offers per home!
Well- DUH - I could have told you that.
If you are thinking of purchasing a home do it now! If you are thinking of investing in Real Estate, it's time to stop thinking and start buying! Get going - there is still a lot or properties available -- however -- the best priced, tier 1 properties are disappearing at a rapid rate with multiple offers.
Case in point in Tracy there were 42 homes PENDING last week! WOW We didn't have 42 homes the entire month of November and December. So do the math -- 42 homes a week, pending, 4 weeks a month -- almost 100 pendings a month -- 1000 homes on the market - that is only a 10 month supply. As opposed to 42 homes a month sold with 1000 homes on the market equals about 24 months supply.
Bottom line - if you are a home buyer without CASH and you want one of these well priced homes, get a local realtor, offer asking price, be pre-qualified, have everything ready to do. You may have to bid on more than one property and you might have to wait to find the perfect property.
Has the ball bounced -- perhaps it's just starting to roll. Get going -- BEAT the MARKET - don't be wondering WHAT IF!
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