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How Real Estate will look in 2011
Wednesday, January 12, 2011
The chant of "It's the best time to buy a home in decades" was impossible to miss if you paid any attention to real estate news the past year. Everywhere you turned there was someone who was bellowing on about how you needed to be purchasing a home right now. The main issue for most people was a lack of funds at the current time. What many experts had forgotten was how much the housing bubble and stock market crash had impacted the pocketbooks of average individuals. That is not to mention the fact that many people already were home owners and were interested in selling, not buying.
Given that we already know what happened with the real estate market in 2010, many are interested in where the market is going in 2011. There might be some of you out there who still are thinking "I need to sell my house fast
". If you are in this situation, then you might be in luck. It would appear that the market is starting to inch slowly in favor of the sellers. This is not to say that I would just sell my house fast
at any price, but if I was going to sell my house
, then I would probably get more value out of it this year than last.
The best first step for anyone who is thinking "I need to sell my house
" is to start looking around at the different investors who are in the market. Many times the people whom you are going to be selling to in this market are still investors. The typical family coming in order to purchase a home has still not had enough time to recover financially in many cases. However, the real estate investors are never short on capital.
You do need to take caution with these investors. Although they are saying "we buy houses
", what they are really meaning is "we buy investments". Real estate investors do not view your home as a home. They just look at it as something else that they can sell for profit. You are probably not going to get the price offer that you want from them, or even the one that you feel like you deserve. It is all part of making money to them, and you kind of have to accept that. There is little point in trying to fight it. Few individuals or companies out there are saying "we buy houses
" at this point, so you may want to take the first offer that you are able to get.
If you are able to wait out the market a bit more, then more recovery might be on its way. You could hold out and try to make more. The situation that many people are in prevents them from doing this at the time though, and they have to settle for what the buyers are willing to offer.