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Spring and Low cost possibly drive home buyers
Thursday, February 10, 2011
Spring is typically a time of up-swing in the housing market. So, add to that the low housing prices out there, the cautious optimism about the recession finally breathing its last breath and this could be the spring to end all springs in the real estate market and a good way to get us back on our feet economically.
If you are trying to sell in this market, until now, you have probably been frustrated and disillusioned about just how little you can get for your home. You may have been tempted to call a we buy houses
company, whose signs are popping up on the corners of every street in the country, but chin up, things could be changing. Several key numbers are pointing towards the real estate market finally beginning to recover and might start to benefit both buyers and sellers.
The latest data shows that housing prices bottomed out at the beginning of the year and have finally posted a slight rise; the first since August 2010. Keep in mind that this is the first uptick that has occurred without incentivization, which is something keeping people optimistic. Another sign that experts are watching closely is something called REO saturation. REO (Real Estate Owned) is just another name for foreclosed homes. This figure is falling slightly, and normally this is a sign that the real estate market is moving towards a good place for buyers, sellers and investors.
For sellers, there are still some amazing deals to be had out there. Devalued prices on homes are still plentiful, the only thing to be wary about is if you are waiting for prices to drop further, depending on your area of the country, they might not fall all that much more and you could “wait” yourself right out of a deal. There has not been a time in recent history when the interest rate on a 30-year fixed mortgage has ever been lower. These two things, plus the optimism that seems to be trickling down about the economy and the falling unemployment figures, are going to set up this spring for the start of the real recovery in the housing market. If you are looking for quick cash, call one of these we buy houses
companies and you might be surprised at what sort of offer they are willing to give to you.
If you do decide to try selling your home, this could turn out to be the best time since 2005-2006 housing boom.