Reply With Quotegot no inside crap but im in cali and it sux out here:devil: our other house has been on the market for almost 4months and all we have gottin so far is some lease with options and a bunch of window shoppers..but good luck to ya!!
So how do the real estate people feel about the market now? I am in AZ. Just hearing small tid bits that the market is looking better. Not booming like before, but more at a steady reliable state. I was thinking about putting our house up in Febuary, but not sure I can get it ready by then. I do know I don't want to get sucker punched and have to keep it for 6 months like some have had to do recently. Anyone have the inside scoop on interest rates and the housing market?
got no inside crap but im in cali and it sux out here:devil: our other house has been on the market for almost 4months and all we have gottin so far is some lease with options and a bunch of window shoppers..but good luck to ya!!
yup there is life in the old market. I would say it's getting/heading back to normal, at least what normal was before the big boom of the last 4yrs or so, which was a steady 12%(or so) growth from say 1996-2002. I hear interest rates are holding to inching down a bit, and orders for new homes are starting to trickle into my desk....nothing like before but there is life in the Havasu market, the good Realtors like Hot Boats own "warlock25" are still selling and closing homes, which reminds me she has a stunning 1900sqft3bdr 3car with a 27' x 36'dp 3rd car bay about to hit the market.
the not so good have been weeded out, I know a couple of other Century21 havasu Realtors that just haven't seemed to be affected by all this they continue to sell homes in the resale market at a rather healthy pace, will it be as it was before.....sure I believe it will, western AZ is going to be the next So Cal...there is no doubt about that, can any of us say exactly when thats going to happen...no. but if I were to guess at it...shortly after the 2008 election
as for the short term..just about everyone is saying the same thing..February just wait till February
I recently read that the NAR (National Association of Realtors) spent over 40 million in a publicity campaign this fall trying to convince people that the so-called bubble was not bursting.
It's hard to get objective information in my opinion - overall in the Temecula area (so cal) I would say the market is very, very slow.
http://patrick.net/housing/crash.html
http://thehousingbubbleblog.com/
So how do the real estate people feel about the market now? I am in AZ. Just hearing small tid bits that the market is looking better. Not booming like before, but more at a steady reliable state. I was thinking about putting our house up in Febuary, but not sure I can get it ready by then. I do know I don't want to get sucker punched and have to keep it for 6 months like some have had to do recently. Anyone have the inside scoop on interest rates and the housing market?
Talk with Bob from the Boards. From what I've seen of my rental properties in Ahwautukee they were priced at $300k at their peak and I could get $275k with a much longer marketing time.
Sorry to burst your bubble, but unfortunately for all of us homeowners the west is forcasted to correct for the next couple of years, Please check this link to CNN and you can see what they are forecasting for your area....
http://www.money.cnn.com/popups/2006...lestate/4.html
Sorry to burst your bubble, but unfortunately for all of us homeowners the west is forcasted to correct for the next couple of years, Please check this link to CNN and you can see what they are forecasting for your area....
http://www.money.cnn.com/popups/2006...lestate/4.html
Bubble bursting? :idea:Even if these forecasts were to come true, they look more like a normal cycle to me. I guess it's all in how you want to look at it, or hype it. These regional forecast numbers look different than numbers I have seen, but then that's the beauty of forecasts, you can never be sure which ones are going to be right. I would tend to be conservative on the market coming back short term. It's really flattened out, although we've still seen mostly small appreciation, even in the face of large percentage sales declines. New construction is a different story.
I recently read that the NAR (National Association of Realtors) spent over 40 million in a publicity campaign this fall trying to convince people that the so-called bubble was not bursting.
It's hard to get objective information in my opinion - overall in the Temecula area (so cal) I would say the market is very, very slow.
http://patrick.net/housing/crash.html
http://thehousingbubbleblog.com/
This is interesting. I haven't seen this 40 million in marketing directed this way. Odd because the numbers show that so far there is no bubble bursting. Amazing how perception without facts, can sway people. If anything, the marketing would be geared towards trying to get people to look at reality and not just the hype and speculation usually put out by sources like those websites you've posted there. I would expect nothing less than hype from a website called "thehousing bubble.com".....lol.
It is taking longer to sell houses. Buyers are waiting, thinking prices are going to come down further, and sellers are slow to understand that they have to be more realistic in their prices. The houses that are on the market for a very long time, are probably priced too high above the market. This time of year is also the slowest for home sales. Homes that are priced competitively are selling.
If you bought recently, and want to sell soon, you're not going make much of a profit if at all. If you're there for the long term, you've got nothing to worry about. If you're 100% financed, on an adjustable, well, you knew it could happen. Good luck. Just my .02, but I could be wrong....or not.
Lot value in the beach cities is screamin hot.
Scrapers in good neighborhoods holding steady too.
Ahwatukee has the US's number one foreclosure rate right now. Did you see the article on Anthem? Can't give them away and prices are in some cases below pre-run up prices!!! There are just for-sale signs everywhere and it is going to take time to get through that inventory. Meanwhile builders can build cheaper than the old run up prices so that is killing prices on the resale end of things.
I think if you are in the under $600K track home market it might not be a good time, but do your homework and have your agent run a "CMA" on your neighborhood or zip code. The CMA will show average asking price, sold price, days on market and price per square foot. This should give you some indication on what to expect. There are pockets of the valley still doing ok.
The NAR campaign may not have been directed your way AirtimeLavey, but it was directed - here's the link to the press release:
http://www.realtor.org/press_room/ne...o_buy_now.html
Along the same lines, I think it goes without saying that one might expect a message of this nature from NAR.
Bottomline IMO: Always consider your source
Posting Permissions