This morning, the NAR kindly sent me this little update through the Real Estate Insights eNewsletter. It explains, quite well, the steps that we will need to move through before the market stabilizes, both locally and nationally. And then, this afternoon, in my REALTOR(R) Magazine Daily Online, I got this story.
Both have something underlying that I think is very important. Congress needs to
I just got today’s REALTOR Magazine Online Daily Update. This was one of the stories that was featured. It is about how foreclosures are up. They make up 10% of the listings in CA, as opposed to 1.7% last year. But, at the same time, distressed properties aren’t listed at much of a discount compared to other properties.
A month ago,
How many times do we have to hear that the housing market is doing one thing… and that must mean that the whole market is doing the same thing?
When the price of a barrel of oil goes up, it is a singular commodity moving. While there are different grades of oil (sweet light crude, heavy crude, rough crude, etc.) they are interconnected. If one moves, they all move because their value is interconnected.
When prices move up or down in GA, there is little correlation to prices in Maine. They aren’t interconnected. There may be a few instances when they can be driven by the same forces (the Sub-Prime Meltdown.. SPM, is an example). If there is MASS unemployment nationwide, that would affect multiple markets, but
I keep seeing and hearing about “dirty little secrets” that real estate agents won’t tell their clients. Most of them turn out to be pretty stupid points. However, today while going through my morning routine (dead-heading, so my brain needed something to do) I thought of the dirty little secret that FSBO companies don’t tell their customers.
OK, the water is chest deep now. I started wading in here, and I just don’t know when to stop.
So, what do I see happening with interest rates? Overall, I see them going down. But, I think they’ll go up first. Was that vague enough that I can claim victory no matter what?
First, the case for rate rising. In the short term, I see