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Replies (6)
- sunnyview
- Contributions:25139
Slow and shaky going into the holidays even with the low rates. I think we will know more about the underlying health of the market in the spring.
- Brad Andersohn, "bradandersohn"
- Contributions:165
I have to agree with Sunnyview, however there will still be some activity as is traditional this time of year in any market and all locations.
- Jay Goyal, "Jay Goyal"
- Contributions:1
The current market is proving excellent opportunities for investors and home buyers. Currently we are managing 79 rental units and we have zero housing vacancy. Some people need tenants, but we need landlord and investors. Great return. We are real estate investment expert of Imperial County, CA.
- wetdawgs
- Contributions:26854
In my area, the casual drive by assessment suggests inventory is accumulating.
- SteadyState
- Contributions:787
More pain especially for debt-ridden CA. Today it was reported that foreclosures jumped by 7%. But I will go deeper and say that average buyers cannot afford to buy homes in many areas of the country:
Consider the following three cities in the San Francisco Bay Area:
Sunnyvale: Median Home Price = 8 * Median Household Income
Cupertino: Median Home Price = 10 * Median Household Income
Saratoga: Median Home Price = 12 * Median Household Income
Only government intervention and funding have kept home prices inflated.
Private lenders will NOT fund such high risk loans.
So the housing market is being artificially being pumped up by cheap money and lots of lobbying ... but markets have a way of being rational over the long run - so hold on to your hats as we have just entered the third dip.
Consider the following three cities in the San Francisco Bay Area:
Sunnyvale: Median Home Price = 8 * Median Household Income
Cupertino: Median Home Price = 10 * Median Household Income
Saratoga: Median Home Price = 12 * Median Household Income
Only government intervention and funding have kept home prices inflated.
Private lenders will NOT fund such high risk loans.
So the housing market is being artificially being pumped up by cheap money and lots of lobbying ... but markets have a way of being rational over the long run - so hold on to your hats as we have just entered the third dip.
- Mike Vazquez, Realtor at ERA, "Mike Vazquez"
- Contributions:62
My mid-west area seems to be warming up...in the last 24 hrs:
New Listings 107
Pendings 77
Solds 61
Leased 10
Good Luck!
New Listings 107
Pendings 77
Solds 61
Leased 10
Good Luck!
whats your take on the housing market?
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- 5.0/5.0
- (3 reviews)
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