Thus far, homeowners have kept their homes off the market, but the Spring market has just begun. There are positive signs in the marketplace for the rest of 2008; however, the market remains a “buyer’s market” unless you are a bank. So, do not place your home on the market unless you absolutely m
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03/14/2008
There was a great article in Time Magazine last month by Dan Kadlec, --titled “Ignore the Headlines!” The article identified something I have been talking about since the beginning of the year, “finance costs will rise as the economy recovers, so trying to time real estate might not pay off.” The
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03/14/2008
The new loan limits are going to have a significant effect on the market. These new limits won’t address the troubles everywhere, since they are formulated based on an area’s median sales price. So, they will have little effect in most of the country, but they will have a profound influence on Ca
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03/14/2008
Bank owned foreclosures are in vogue and are seeing the most activity. Foreclosures only account for 7% of the total active inventory, but 23% of demand. There currently is only a 2.37 month supply of foreclosures, an extremely valid explanation for all of the multiple offers. And, according to
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03/14/2008
The lower ranges, especially distressed properties, are receiving multiple offers. It is difficult to gauge the current real estate market by reading the papers or listening to newscasts. The best way to assess what’s going on in is to poll the Realtors® out in the field, writing offers, guiding
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03/14/2008
I will stick to my simple message for over a year now: do not place your home on the market unless you undeniably have to sell. It is all about location, price, condition and patience. Price is based upon a home's location and condition. As a homeowner, you only have control over condition.
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02/26/2008
Quite simply, do NOT wait for the bottom of the market. Nobody is going to ring a bell to signal the point at which we reach that bottom. We will not know the precise bottom until months after it has already occurred. Take solace in the fact that the conditions are perfect with low interest ra
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02/26/2008
With all of the attention at the federal level to righting the housing ship, the Orange County resale market will probably not follow the normal cyclical patterns of the best demand in Spring, followed by a little less demand in the Summer, followed by another drop in the Autumn, followed by the
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02/26/2008
First, the smart buyer will use the tax rebates to buy down their interest rates for the life of the loan. More importantly, the increasing of the conventional and FHA loan limits will provide a much needed boost to demand in the higher ranges, which have slowed dramatically since the drying up
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02/26/2008
Is the foreclosure market as bad as reported? Foreclosures and short sales are a significant part of the current Orange County real estate market. Currently, they account for 32% of the active inventory. The flip side of that coin leaves 68% of non-distressed homeowners marketing their homes. Bu
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02/26/2008
