Thursday, June 9, 2011

The Glass is Half Empty or Half Full on Housing?

We Realtors are like everyone else - some of us are optimists while others pessimists so naturally our writings will reflect our beliefs. I always take the stance that things are never as good or bad as what most people think. Lately, there has been plenty of negativity in our housing news - much of it valid - some not. Most of these stories talk about shadow inventories, the next wave of foreclosures, concerns for the economy, and how home prices will/must fall further. Being that our economic system is affected by consumer confidence, all news good and bad will have some effect on our collective daily decision making.

Unfortunately, many people are failing to take into account that much of this negativity is written in general or regional terms - some implying that all market ills are shared equally by all parts of the country. We know this is not true since not all areas were equally affected by the housing market correction. Some areas have seen prices come down sharply while others have only seen modest reductions. There are even some areas of this country - believe it or not - where prices have been rising! So, what can be done? How can one know if/when the time is right to purchase?

My answer to anyone asking is always the same, " it depends" If you want to know if the time is right to purchase - let's talk about the type of sale you are thinking about and see how it works in today's market. Contact me today to get the information you need to make an educated choice. Have a great day!