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Whats Going On In The Real Estate Market News Letter!

By
Real Estate Agent with Prudential California Realty

Are you out there wondering what the market is doing and if you should be sitting around waiting longer for the market to fall? I feel the hole point of waiting to buy is to get a good deal, right? Then why are you not stepping of the fence and taking action. The market is moving out there whether you are with it or not. I tell people if the market was going to loose more value and momentum the why are homes being overbid on. You would think that the homes would be going for less than they are listed for. Do not get me wrong though, if you are looking for homes that are $450,000 and above then things are a little different. Right now I am talking to first time buyers. At my open house this weekend I was noticing that all the people coming through except 2 couples were investors looking at the good deals. They are out there taking action, homes priced below $350,000 right now are hot in Southern California. I am talking about my local area. First time buyers that have done the right things to get prepared for a home purchase are loving it right now with all the deals out there. I meet a lady across the street from my open house that almost came to tears. My home was listed at $337,900 and she lived in the exact model match. She payed over $650,000 just under 3 years ago. This is going on across the board right now. How can anyone say that half price homes are not a good deal. I am also watching trend graphs real close and I have been seeing the market starting to get stronger. As you all know that will begin to drive prices up. The lenders out there are also saying for the qualified buyers that there is enough money to lend still at a good interest rate. Once the money starts to run out it is going to turn into a supply and demand situation, again that is going to drive up interest rates. So you make the choice, take action or watch the market turn on me before I take action.
http://realtytimes.com/REUv/JohnInglis

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