Foreclosures and Other Housing Stuff
I expect you have been reading the papers and have noted the various articles and headlines on the housing market. If you haven't, you are in the minority.
Recently, the news has gotten a bit better, in the overall scheme of things. But you have to read BEYOND THE HEADLINES, since those are there to attract readers and sell papers. They are not necessarily an accurate picture of what is going on in the market. Am I biased since I am in the biz? I don't think so. I watch it carefully for that reason and I track the MLS statistics myself. And I am out there everyday talking with buyers, sellers, agents, and the newspapers just do not, for the most part, describe what is really going on in the market. Or the information is taken out of context. And often the headlines have little to do with the content of the article.
Case in point - the headlines screamed at us the other day on the front page of the business section about the 660% increase in foreclosures. But did you read beyond? The news is not all bad.
I wrote a post about this on my ActiveRain blog - here's the link to the post, which also talks more about other housing market news. Take a look.
The rates are great right now - and predictions are for them to remain so for some time (they may hit 7% by the end of the year, per some folks, while others say they may be closer to 6%). Inventory is great too. Prices are stable. And buyer activity is definitely picking up. If you are thinking of buying, this is a great time. And as a seller, if you are realistic vis-a-vis current pricing, your home will sell fairly quickly.
Recently, the news has gotten a bit better, in the overall scheme of things. But you have to read BEYOND THE HEADLINES, since those are there to attract readers and sell papers. They are not necessarily an accurate picture of what is going on in the market. Am I biased since I am in the biz? I don't think so. I watch it carefully for that reason and I track the MLS statistics myself. And I am out there everyday talking with buyers, sellers, agents, and the newspapers just do not, for the most part, describe what is really going on in the market. Or the information is taken out of context. And often the headlines have little to do with the content of the article.
Case in point - the headlines screamed at us the other day on the front page of the business section about the 660% increase in foreclosures. But did you read beyond? The news is not all bad.
I wrote a post about this on my ActiveRain blog - here's the link to the post, which also talks more about other housing market news. Take a look.
The rates are great right now - and predictions are for them to remain so for some time (they may hit 7% by the end of the year, per some folks, while others say they may be closer to 6%). Inventory is great too. Prices are stable. And buyer activity is definitely picking up. If you are thinking of buying, this is a great time. And as a seller, if you are realistic vis-a-vis current pricing, your home will sell fairly quickly.
Labels: ActiveRain, buyers, housing market, newspapers, sellers
posted by Jeff Dowler | 8:27 PM
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