Signs of Real Estate Market Bottom
The big question everyone is asking these days is "When will the bottom of the real estate market occur?" The bottom of the market may be closer than you might think. Housing Predictor explores the ways to tell about your market.
The big question in real estate these days is "When will the bottom of the market occur?"
The elusive bottom of the market may be closer than you think, but it depends where you live and what you see. Housing Predictor explores how to find the elusive bottom of your real estate market, and lists the 10 Signs to look for when the bottom of your market is near.
Housing Predictor forecasts more than 250 local housing markets in all 50 U.S. states, and provides insightful exclusive real estate news in its growing online magazine format.
All real estate markets are local in nature driven by regional economies, including job growth, business development and a list of other indicators that determine each community's economic health. Finding the bottom in any real estate market is no easy task, but there are chief indicators that can at least shed some light on the current state of the market.
Investors look for stabilization to develop first and then determine for them selves whether it's a prudent time to take the next step. Historically, real estate cycles last any where from 7 to 10 years on average in the U.S. But that too may be changing as economic conditions outside of the norm develop to drastically reform market dynamics.
That's what happened to cause the credit crisis as Wall Street sold securities in record numbers to fill record high orders of home mortgages like commodities. The crisis has widely extended into the overall economy as all-time high foreclosures worsen in just about every state of the nation.
Real estate recessions exist in 46 states, but the bottom of many markets may be closer than you might think. Take for instance, Florida, which saw its real estate markets stall out earlier than the rest of the nation as a result of two terrible successive years of hurricane activity. The back to back active hurricane seasons threw Florida into an earlier slowdown than the rest of the country, and many of its local housing markets are already showing many signs of hitting their bottoms.
Other markets in California and Arizona are beginning to signal that some markets may be getting close to bottoms. Market bottoms don't happen with a big bang. Most people hardly ever realize they've happened until markets are headed up.
To learn the 10 Signs to the Bottom of Real Estate Markets, check your market forecast and search real estate listings visit http://www.housingpredictor.com/
Broker / Industry Analyst
We need legislation such as HR3915, the Mortgage Reform and Anti-Predatory Lending Act of 2007, to protect the nation. Lenders should undergo rigorous training including continuing educational opportunities required by law and local and state financial regulatory boards. Local, state and national governments should require greater levels of skill and attentiveness by lenders when excercising discretion and prudence when qualifying a borrower. Recovery efforts depend upon these measures.
Apr 01, 2008 04:55 PM
The Real Estate Corner - Cleveland, OH
Active legislative interference into the markets is what will prolong the current trend and extend the amount of downtime on the market. If the legislators stay out of it completely (very unlikely) then the recovery time will be shortened.
Another thing to consider is retirees who will be forced to sell on the stock market from their 401k at an arbitrarily set age by our legislators. Unless that law is eliminated, expect another crash as the rush of retirees hitting the magic number will overpopulate the stock market with demands to sell that will outweigh the buyers. Stocks will sell at a highly reduced rate and it'll carry over into other markets.
Apr 05, 2008 11:18 AM
RE/MAX Dream Properties - Northville, MI
It is amazing how real estate is such a local deal....so much depends upon jobs etc.
Apr 05, 2008 01:45 PM
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