Has the train already left the station in Real Estate Bargain Land?
Realtor Richard Weisser asks the question if we've turned the corner in the real estate market or if there are other factors which are strengthening the market. Enjoy the post below.
I have read many articles in the last few weeks about the recovery of the real estate market. And even our own local numbers suggest a significant improvement in both consumer confidence and property values.
But is the current frenzy of activity a trend or an anomaly? There are still plenty of distressed properties out there, and the waves of default have not subsided.
Perhaps it is a result of the overall slowdown in processing foreclosures due to litigation and pressure from the Feds.
Perhaps it is due to the fact that many borrowers are allowed to remain in their homes for much longer periods of time after default.
Perhaps it is due to the fact that many institutional owners have become more flexible and accommodating towards potential buyers of their properties, resulting in a larger pool of potential purchasers that drives prices upward.
And maybe, just maybe, we have actually turned the corner and are truly on the road to recovery.
Only time will tell, but in the meantime we will enjoy the surge while we can!
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