If you now have your house for sale or are planning to do so, I don’t need to tell you that your "journey" is going to be a marathon and not a sprint. The days of multiple offers, getting more than you expected, and accepting an offer in just days -- or weeks -- are over. It’s a buyer’s market which means more houses for sale, longer stretches on the market, and periodic price reductions. Yes, Mr & Mrs Seller, you need to be prepared for a sustained effort but don’t despair. You can definitely increase your chances of selling your house in a reasonable time by following a few guidelines. Click here to learn more...
Last month, I wrote extensively on how housing affordability played a significant role in leading us into the mortgage and housing crisis and how I believed that it would likely lead us out. I mentioned that I thought that that process was underway and provided some ideas for both sellers and buyers on what actions they should take in order to succeed in the current market. This month, I am going to follow-up by adding some further perspective on the cause of the market downturn, what signs to look for which may foretell the bottom, and then provide a statistical update on why the market may well have turned the corner3;at least in San Diego. Folks, the housing mess came on us gradually like our expanding waistlines and receding hairlines.... Let´s trace its evolution through several steps: Click here to learn more...
The Real Estate Market? You have been reading some pretty dire headlines in the press suggesting that the housing crisis is intensifying. Yet when we look back several months from now, there is a very good possibility that we will see that the recent period marked the bottom of the U.S. housing market. Yes, the housing market is bottoming right now. So, how can this be? For starters, a bottom does not mean that prices are about to return to the days of 15%+ annual appreciation but it does mean that the housing market is no longer getting worse and this is the critical factor. Folks, the current housing bust is now nearly three years old. You may recall that home sales here in San Diego peaked in the July ? Sep 2005 period and since then, new home sales across the nation are down a staggering 63% from peak levels of 1.4 million. Housing starts have also fallen-- more than 50%. Adjusted for population growth, starts are back to 1982 levels. Additionally, residential construction is close to 15-year lows and by the fourth quarter of this year, it will probably hit the lowest level ever. Click here to learn more...
Selling Your Home This Year? Unfortunately, it's a buyer's market which means that more houses are for sale and on the market for longer periods of time. Therefore, sellers need to be prepared for a sustained effort. But, so long as you follow some simple suggestions, selling your home can definitely be accomplished. Traditionally, spring and summer are "prime time" when it comes to buying and selling homes and all things being equal, this is your optimal time to plant the "for sale" sign. My continuing goal in assisting sellers is to help them achieve: maximum price, in the shortest amount of time and with the least amount of hassle. Click here to learn more...
