The Real Estate Market May Soon Take An Upturn With Homes For Sale Inventories Back To Normal Levels By Midyear
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J Harris
Mar 29, 2013, 8:00:04 AM3/29/13
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Article Title: The Real Estate Market May Soon Take An Upturn With Homes For Sale Inventories Back To Normal Levels By Midyear
Author: J Harris
Word Count: 428
Article URL: http://www.isnare.com/?aid=135748&ca=Real+Estate
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=135748
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According to the February 19, 2007, issue of BusinessWeek, the homes for sale market has not crashed and is forecasting normal inventory levels for homes for sale by midyear.
We have gone through quite a lot of up and down forecasts over the past few years. For several years, forecasters were predicting the burst of the real estate market bubble, as it continued to grow by leaps and bounds. They said it would burst and insinuated that every real estate investor, as well as buyers and sellers of homes for sale would lose their shirts.
While prices have deflated in most areas in the past couple of years, thee was never the doom and gloom �burst�. There are many investors of residential homes for sale, who now find themselves in foreclosure, will probably lose a lot of money, and will suffer a less-than-favorable credit rating because of it. Many of these investors of homes for sale used the �no money down� and/or �get rich quick� financing schemes. For these unfortunate investors, that is the risk they took by investing in residential real estate. There also are some current sellers, however, who must sell their homes for reasons other than the deflating market. They may be forced to take a lot less money for their homes for sale than they originally planned. They are the real victims of the market bubble, but it is getting better � much sooner than anyone expected.
Currently, many existing San Diego homes for sale are priced about the same as last year at this time, which were at 2003 price levels. Construction has fallen sharply with builders trying to sell their current homes for sale inventories before building more. BusinessWeek�s Peter Coy, however, is predicting that the homes for sale inventories may be back to normal levels by midyear. He based his projections on the continued low interest rates for homes for sale and income growth.
Current fixed-rate, 30-year mortgages have interest rates no higher than in June 2004. They averaged 6.2 percent during the last quarter of 2006, which is well below the average ten years ago.
Homes for sale in most areas remain affordable, according to the National Association of Realtors. Even with the rising prices during the bubble of more than 50 percent in the past five years, the association shows an affordability index for homes for sale of over 100. That means that income growth has kept up with rising prices, allowing a median income family to be able to afford a median-priced homes for sale.
About The Author: John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more information please visit http://www.twtrealestate.com/
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=135748
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Message delivered directly to members of the group:
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*****************************************************************
Please consider this free-reprint article written by:
J Harris
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=135748
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=135748
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: The Real Estate Market May Soon Take An Upturn With Homes For Sale Inventories Back To Normal Levels By Midyear
Author: J Harris
Word Count: 428
Article URL: http://www.isnare.com/?aid=135748&ca=Real+Estate
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=135748
Easy Publish Tool: http://www.isnare.com/html.php?aid=135748
*********************** ARTICLE START ***********************
According to the February 19, 2007, issue of BusinessWeek, the homes for sale market has not crashed and is forecasting normal inventory levels for homes for sale by midyear.
We have gone through quite a lot of up and down forecasts over the past few years. For several years, forecasters were predicting the burst of the real estate market bubble, as it continued to grow by leaps and bounds. They said it would burst and insinuated that every real estate investor, as well as buyers and sellers of homes for sale would lose their shirts.
While prices have deflated in most areas in the past couple of years, thee was never the doom and gloom �burst�. There are many investors of residential homes for sale, who now find themselves in foreclosure, will probably lose a lot of money, and will suffer a less-than-favorable credit rating because of it. Many of these investors of homes for sale used the �no money down� and/or �get rich quick� financing schemes. For these unfortunate investors, that is the risk they took by investing in residential real estate. There also are some current sellers, however, who must sell their homes for reasons other than the deflating market. They may be forced to take a lot less money for their homes for sale than they originally planned. They are the real victims of the market bubble, but it is getting better � much sooner than anyone expected.
Currently, many existing San Diego homes for sale are priced about the same as last year at this time, which were at 2003 price levels. Construction has fallen sharply with builders trying to sell their current homes for sale inventories before building more. BusinessWeek�s Peter Coy, however, is predicting that the homes for sale inventories may be back to normal levels by midyear. He based his projections on the continued low interest rates for homes for sale and income growth.
Current fixed-rate, 30-year mortgages have interest rates no higher than in June 2004. They averaged 6.2 percent during the last quarter of 2006, which is well below the average ten years ago.
Homes for sale in most areas remain affordable, according to the National Association of Realtors. Even with the rising prices during the bubble of more than 50 percent in the past five years, the association shows an affordability index for homes for sale of over 100. That means that income growth has kept up with rising prices, allowing a median income family to be able to afford a median-priced homes for sale.
About The Author: John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more information please visit http://www.twtrealestate.com/
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=135748
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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