Today...Tomorrow...And Beyond...this will be the question. With rates still artificially held to 5%
and buyer incentives, one would believe that homes would sell quickly.
But that is the rub...home sales remain slow in all market.
Foreclosures and Short Sales have been over 30% of sales in Chesapeake, Virginia Beach
and nearby cities in the past year. And that is what is causing the fear. Fear that all homes will
sell for close to nothing.
Not looked at is that 70% of the homes weren't Foreclosures or Short Sales!! So Sellers(if
they didn't buy in 2006-2008) can come out ahead.
Media reports on growing wave of foreclosures...7 million and growing...will impact the market.
Yet the impact is on prices!!! Shouldn't be home sales!!!
IF YOU NEED A HOME, NOW IS THE TIME TO BUY!!!
IF YOU NEED(NEED IS NOT WANT) TO MOVE, NOW IS THE TIME TO SELL!!!
(Price pressure will continue and your value won't increase in the next two years most likely)
Have an opinion?? Disagree??? Agree?? Question??????