Tuesday, January 04, 2011

New Year, New Market?

Welcome to 2011! Most people want to know when the real estate market will finally rebound and they also want to know if the market will continue to fall. I believe we have hit bottom and that prices have begun to stabilize. Foreclosures and short sales will continue to trickle into the market throughout this year which will give buyers one last really good opportunity to buy at the "bottom". How can I reasonably predict this? Well, here's how, many of these foreclosures that come onto the market at really cheap prices are being snapped up in a matter of days by all cash investors who are paying over full price. Did you hear what I said? Bidding wars on foreclosure properties that are priced low. Non-foreclosure properties are also getting multiple bids if they are priced right which means slightly under market value. I plan on buying more homes this year than I did last year since I feel the market is about as low as it is going to go.

Happy New Year everyone!


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