Looking at REAL ESTATE and life with rose colored glasses and no excuses!February 20, 2010
For the record, I know the real estate market has a LONG way to go to make a significant improvement but I also know that things are getting ROSIER and BRIGHTER.
I have seen more improvement in real estate since January 2010 than I saw in the last six months of 2009. There are more buyers, more realistic sellers and MORE DEALS closing.
We have a long way to go. Most importantly, banks need to facilitate closings – LOAN MONEY TO CREDIT WORTHY BORROWERS. Sellers need to keep pricing their homes with the realization that runaway pricing is long gone but they will reap a tax benefit and a personal benefit in buying another home at today’s prices. In short, you may lose on your current house but you will more than make up for it on your next home. It will be a bargain.
Foreclosures are bottoming although they do account for almost a 1/4 of the market at this time. That’s the scariest unknown for real estate agents – just how bad is it going to be when the banks finally admit how many homeowners are behind on their payments.
But any way you look at this – we are going to improve. Life will get better and I expect 2010 to be the year the market changes and improves. Looking at life through rose colored glasses? Not really – just years of experience through the cycles of real estate tell me we are turning a corner.
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