When do you think the market will hit bottom?

By
Real Estate Agent with Andrew Rosenblatt Realty

I believe and am hoping for by late Dec. 2009- Jan 2010.

What are your thoughts?

 

Andrew Rosenblatt

www.RosenblattFinancial.com

Comments (3)

Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

My thoughts are the foreclosures need to stop before we see the light at the end of the tunnel.  50/50 chance of a massive avalanche of inventory hitting the market all at once due to moratoriums ending.  I say 30-90 days before we can say we are out of the woods.  And we would be out of the woods last month if the new inventory doesn't come online ;)

May 14, 2009 03:37 PM
Andrew Rosenblatt
Andrew Rosenblatt Realty - Tarzana, CA
Local Expert Real Estate Broker

It seems as though, everyone is selling the same REO's in Vegas because they are online as you noted...

Avalanche, you say?  I can def. see that..a def. snowball effect leading to a major 1st time Buyers Market.  Cheaper than renting nowaday to purchase your first property...

 

May 15, 2009 10:52 AM
Paul McFadden
Responsive Pest Control - Seattle, WA
Pest Control, Seattle, WA.

Andrew: I think you may not be too far off the mark. A correction as far as home buying may not occur until Spring 2010 as winter is traditionally a pretty slow time. That being said, the first time homebuyer tax credit of $8000 ends December 1. I wonder if people will get off the dime before that expires. Thanks for the post!

May 17, 2009 03:37 AM