Now this is the question of the day??? You had to note that Bryan's Real Estate Blog had been out of commission for a while now. No...author isn't dead...just bursting the stereotype "the market is dead" line and verse stated from some wings of the news networks.
News Flash!!! Every Real Estate Market is Different!!! AND No two local real estate markets are the same!!!!!!!!!!!!!!!!!!
Awe...you might think I am a bit testy on this last point. As my counterparts in areas like San Diego and Chicago that have seen a rebound in the market and a reduction of foreclosures in the past few months(San Diego has had price appreciation for 13 months straight!!!...Hampton Roads has been less consistent but on the same trend!!!!) would tell you, it is getting old to be lumped in areas that hard unemployment(God Bless all those unfortunate people) has really taken a toll on their housing market.
Everyone has heard how Detroit's employment numbers and housing market have been hit particularly hard with homes selling for $28,000!! Here in this local market(and maybe in yours) the unemployment has improved some and is hanging round an "acceptable" 5.7%(5% or less unemployment is considered my many economist as "full employment"...needs explaining but another time). Thus, the housing market is recovering and prices have stablized and tend to improving. Thus, sellers that need to sell need not fear "giving the house away".
Buyers...you need to run out and get serious!! Rates are below 5% and there are some foreclosures still happening in every market and in every price range....if you are looking for a bargain and some sweat equity.
IF time and effort are at a premium, the buyer will find a good inventory of homes with sellers that have great looking homes at a fair price. In Hampton Roads(and maybe where you live) there seriously isn't a better time to buy!!!
So get real and get going!!! Life is good!!!
Remember "Always Make the Smart Move"!!!