When Will The Housing Market Bottom?

It has beennearly six years after home prices started falling. We appear to be nearing a new phase: a prolonged bottom......

Answer: When you look back and say,"prices are on their way up, we missed the bottom".  No one can give the perfect answer (life is better understood backwards, but it must be lived fowards) so why stress over it.

Unit sales of previously owned homes are up from their low point of mid-2010 when sales plunged following the expiration of home-buyer tax credits. That leaves prices as the last measure that hasnot yet stopped falling. The problem, of course, is that foreclosures are still a very high share of sales in many of the hardest-hit markets. Still there is a headwind in the form of "shadow inventory" of potential foreclosures. Banks owned about 450,000 properties at the end of March, but there are an additional 2 million loans in some stage of foreclosure and an additional 1.7 million more where mortgage payments hadn't been made in more than 90 days. These will put a drag on the recovery, not stop it. New home construction will pick up as the market has been somewhat starved during this time. On the brighter side, there is an appetite for housing from investors who will convert them into rentals, and six years of pent-up demand from traditional buyers who feel better about their financial prospects. Still there is more that will keep home prices from rising once they do hit bottom. Namely, qualifying for a mortgage, appraisals, and banks tightening credit. There is plenty that can go wrong and a lot that needs to go right for housing to recover. But there are more signs than there were a year ago that housing isn't getting worse, and that it may slowly be getting better (reference WSJ).

With interest rates near an all time low, the secondary market pricing having declined significantly, and housing choices abound, what is holding you back? Is it uncertainty about the economy; the possibility of prices declining more; fear of not selling your current house (that one is valid); the inability to qualify for a mortgage ( you will not know if you do not let your realtor introduce you the the right mortgage broker or bank); family issues preventing you from making the move (can't always help you there); or, are you indecisive on commiting?

The perfect house for you is out there, you need to work with your realtor to find it and help you get qualified for the mortgage.  You will know which house is yours because you can feel it when you walk through it. Procrastinate and you will lose it to someone else.

You need to call me and discover that with my years of business experience (and I have bought and sold a few of my own homes in the process) and know how to negotiate, and close a deal that I can help make the process easier. Real estate brokerage is my career, after retirement. I am the grandfather, or father (lets leave that between us) you need to talk through your situation. I just might understand you better than you! I will guide you through the process, and make it happen on your terms. So give it a shot, after all you still have the last word (yes or no).

Choose The Right Realtor

•    If you are a buyer, you should want a realtor who understands why you are buying, where you are moving from, the stress of relocation, and has the patience to guide you through the decision making process. These services are free to the buyer.

•    If you are a seller, you need a realtor who understands the regional market, current values and realistic pricing, knows how to and is willing to market your house for maximum exposure, and keeps you informed.

•      Whether a buyer or seller's agent the realtor must be a good negotiator and advisor to you.

•    You need a realtor who not only has the experience as a realtor, but one who has relocated, has bought and sold, who knows what it is like to relocate children, a working wife or husband, or who has faced retirement, but is still very active in both business and the social scene: Like Me....

•    Keep in mind that Realtors are bound by their strict Code of Ethics to give fair treatment to all parties in the transaction, but that in NC they are essentially bound to be loyal to the seller unless hired as an agent by the buyer.

•    If you are a buyer, you should want a realtor who understands why you are buying, where you are moving from, the stress of relocation, and has the patience to guide you through the decision making process. These services are free to the buyer.

•    If you are a seller, you need a realtor who understands the regional market, current values and realistic pricing, knows how to and is willing to market your house for maximum exposure, and keeps you informed.

•    Whether a buyer or seller's agent the realtor must be a good negotiator and advisor to you.

•    You need a realtor who not only has the experience as a realtor, but one who has relocated, has bought and sold, who knows what it is like to relocate children, a working wife or husband, or who has faced retirement, but is still very active in both business and the social scene: Like Me....

•    Keep in mind that Realtors are bound by their strict Code of Ethics to give fair treatment to all parties in the transaction, but that in NC they are essentially bound to be loyal to the seller unless hired as an agent by the buyer.

Welcome to the Asheville Realty Group. My real estate office is located at 47 Patton Ave. in the heart of downtown Asheville, a city situated by the Blue Ridge and Great Smoky Moutains.  

I specialize in out of town customers, as a Buyers Agent, looking to relocate to Asheville, and list and sell properties in Western NC. 

Attracting out-of-state buyers offers a huge advantage to my listings. I give every client, buyer or seller, personalized attention; can be available 24/7; and, I have the resources to help answer all questions Buyers and Sellers may have about both relocation or listing a property, and the steps that you must do to accomplish a real estate transaction quickly and efficiently. 

I orientate out-of-town buyers to Western North Carolina; and, if you are looking to sell your house in the Asheville area, I have a marketing specialist on staff to assist my efforts so that I can get your property exposed quickly, while utilizing the latest technologies. 

Browse the web site by utilizing the tabs across the top inside the green banner, and be sure to check out my monthly newsletters for additional information of value to you.