We can apply this theorem to the
real estate market’s accepted maxim of what’s good for buyers is bad for
sellers. The maxim is not essentially true. The recent market trend provides good
news for both home sellers and buyers.
The rollercoaster housing industry reports that home prices have started to
climb especially in south Florida. So if sellers
can hold out a bit longer, they will benefit from significant growth
opportunities, and buyers who can
jump into the real estate market before sales prices increase significantly
have the opportunity to get great deals.
Homes that remain on the market for
long periods are typically turned into rental properties. Rental demand by
young people and immigrants historically clears the oversupply of existing
homes for sale, but the current economic woes of our country sends young people
home to live with their parents, and lack of employment leads to multiple
families sharing a single unit home. As a result, the decrease in rentals will
prolong the opportunity for buyers, and increase the opportunity of sellers.
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Home ownership still remains a large
part of the American dream and is a positive long term investment. What’s
holding buyers back is the uncertain economy in an election year, and
increasing down payments. Banks requirements, however, are loosening slightly,
and mortgage rates are exceptionally low. Sellers will have to be patient just a
bit longer. Having your home “staged”, a technique called Home Staging, will make your home more visible on the internet, and
put it at the top of a buyer’s list of homes to see. (Read how in other posts
on this site and other blogs).
GOOD NEWS…BAD NEWS…WHO KNOWS? IT’S ALL GOOD NEWS!
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