Trend

In our area of the midwest some homes having been selling faster than the past year. We believe people want to move and get settled to get kids in a school system or to get moved before the upcoming holidays. I beluieve the late Fall and winter time may see the market get slow and be an opportunity to find some bargains. Good luck on all your deals. Believe and Achieve! - Joe

Thanks for your commit.I was in hope that this thred would take off so that we could compare all parts of the country.Things are really slow here in NM housing prices are down 15% compaired to two years ago.They have been at a vertuall stand still all summer.It is a real buyers market here.
Bill

I live in SoCal and it is the same thing here. The reason why you are seeing houses snatched up so quickly is because there is a shortage of inventory on the market. People think there is lack, so they're snatching up the houses as quick as they can. Next month the moratorium lifts and the banks will begin releasing inventory again. As a result, we'll probably see a small drop in home prices and longer days on the market. The banks will not be releasing all the inventory at once, so you'll see this small flood of inventory happen several times throughout the next two years, at least. The banks do not want property values to drop anymore than they have, so they think if they release little bits at a time they can stabalize prices. If your market is still at a low and slow, you have great opportunity to snatch up deals before other investors get wind of your area.

KimmyJ
Press on...

I just wanted to bring this topic back up Hoping to get a few more commits on it from different parts of the country.I know that Joe and Kimmyj pretty much covered the inisial post but I was hoping for more commits out of the mid west and south.
Bill

I spoke to some friends over the weekend that live in Central Florida they stated the market was pretty flat there. They believe there are so many bank owned REO homes and another major block of homes in foreclosure that homes are still selling at a slow pace in central Florida, due to the amount of inventory of homes currently available.

To gtaher some addiutional information on your area, you may want to speak to your local Realtors Association and they can probably give you statistics by month of your local area. Good luck on all your deals. Believe and Achieve! - Joe

It is that time of the year where real estate starts to move again and combine this fact with the federal governments $8k first time home buyer incentive program and we are seeing a much improved real estate market compared with this time last year.