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Is the Housing Crisis Over?

By Adam Tarr

Real Estate Agent with MavRealty

May 08, 2008 08:56 AM

Hi,

I am often asked whether now is a good time to buy, or whether it is prudent to wait a few more months. Obviously, everyones situation is different, but it goes to the basic needs of getting as much infoas possible to make an informed decision.

The media is constantly bombarding us with the negatives. So the fact that there was a positive article in the Wall Street Journal this week it important. We are starting to see more positive news mixed in. That is a good indicator that we may be stabilizing.

The article points out some history, and some key factors that may indicate that the worst is over. Remember, you only know that the bottom has been hit once it is on the way back up. Check out the article by clicking the link below.

Housing Crisis Over?

Adam Tarr PC, ABR,ePro, CNE
RE/MAX Excalibur
Scottsdale, AZ
Your Phoenix area Real Estate Source
info@WeAreAZRealEstate.com
480-236-7374

http://www.weareazrealestate.com/

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Jean Powers

Kane & Associates call 510.908.9002 - Alameda, CA

CRS,e-PRO,HAFA,SFR Broker, Northern California

Hi Adam, I just sent out the same information a couple of hours ago, seems not too many agree with it

May 08, 2008 09:01 AM

Steve Glose

Keller Williams Legacy - Orlando, FL

TRC, CIPS, 407-616-7286, Orlando Real Estate, Orla

I just got the memo today and it said that the housing crisis is over. Just thought everyone should know.

May 08, 2008 09:02 AM

Ernie & Barb Suto

Century 21 Preferred Realty - Pompton Lakes, NJ

Hi Adam, that is a very interesting article, but cant help but wonder where they are getting these statistics from. New York and New Jersey, which is a suburb of Manhattan did not suffer as much as some harder hit areas did. There are alot of people who work in NY and live in NJ. The prices are down some, and there is alot more inventory. But it was just never all that bad over here.

May 08, 2008 09:09 AM

Anonymous

Adam Tarr

Ernie and Barb,

I understand what you are saying, as markets vary greatly by region. I am always frustrated when someone wants to translate national data to the local markets and vice versa. I suspect that since this is from WSJ, it is not slanted to the NY/NJ market, but covers the nation as a whole. I don't like using national data for the local prognostication, but my point with getting the word out about this article is that there are positive signs out there. It's just hard to find them in the mainstream media. I think the overall tone and information in the article tries to show the big picture and how it can translate across the market.

May 08, 2008 09:17 AM

Eric Murrietta

Homeowners Financial Group USA, LLC - Scottsdale, AZ

There is a lot of talk about the bottom of the market occurring soon or at this very moment. I think that when we begin to talk about it, we may see it come to pass. As the mindset of consumers change regarding homes and the foreclorures/short sales return to "normal" levels, we will have realized the bottom came and went. However, it could also be a long flat period of bottom and not a quick return to the top...

May 16, 2008 07:34 AM

Carlo Fernandez

The housing crisis is not yet over. The Federal Deposit Insurance Corp, it has seized Indymac's assets and operations after the bank has faced liquidity problems and have stopped accepting mortgage loans. LandSource, a California "horizontal" real estate developer also filed for Chapter 11 protection from creditors jsut over a month ago. The mortgage lending crisis in the U.S., which took in effect in more than a year is not yet over.

But the present circumstances results to less demand, higher supply in housing, thus LOWER PRICES. Canada apparently has not been saved from this crisis. In Toronto, for example, building permits have dropped 12.2$ in May, despite increases in commercial development due to a substantial drop in real estate development, including the volatice <a href="http://www.toronto-condominums.ca/" title="Toronto condos">Toronto condos</a>

But if a home buyer has extra cash, better buy real estate at this time, when the prices are really low. Toronto condominums would be a great investment.

But if you're planning to sell, hold on to your assets.

Jul 11, 2008 02:29 PM

Michael

It must have been over now, I guess.

Jul 10, 2011 07:55 PM

Is the Housing Crisis Over?

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