Read past the headline.
Could we be nearing the end of the R/E crisis?
- Thread starter fmhealth
- Start date
Read past the headline.
Well, our house is going on the market here in a couple of weeks to a month - we live in northern CA. However, I bought in 2000 and frankly even with the lower prices now, I will have made a nice, tidy profit if/when it sells. I'm not greedy and laughed at some of the prices around me last year and the year before. Rambler is right - if one bought in 2005-2007, they will be in a world of hurt.
Bestwifeever
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I just heard last week on some radio talk show a university professor who teaches "emotional finance" discussing that in a sellers' market, houses are priced a few percentage points over what the sellers hope to make, because they know there could be a bidding war. But in a buyers' market, sellers tend to price their house much HIGHER to allow room to come down a lot. Then the houses sit on the market because buyers prefer not to bid as low as those houses are actually worth.
growing_older
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Some real estate guys are trying to talk me into buying properties. Prices have dropped but are now stabilizing. That may be, but it looks to me that inventory is growing rapidly at these new stable prices. Either buyers start to come back since prices are holding or sellers are going to have to drop prices again if they want anything to move. I can drive down streets with for sale signs on every block (often multiples). I have no idea what might happen next, but I don't feel comfortable betting much on it.
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