Posts Tagged ‘buyers market’

We have officially hit bottom – it’s time to buy!

February 22, 2008

Just kidding. We are only in a buyers market for REOs and some isolated high end markets. We are in a “wait and see” market for any other property. BUT we will be in a buyers market once a major news organization breaks a story with the above headline.

“By Ilaina Jonas and Ben Klayman NEW YORK (Reuters) – Hovnanian Enterprises Inc’s (HOV.N: Quote, Profile, Research) chief executive said on Thursday he sees a challenging U.S. housing market for the next two years, but weak demand should bottom out…”

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Time to buy real estate?

January 21, 2008

Well it is officially a “buyers market” for REO/Bank owned foreclosures. We are seeing 10-20+ qualified buyers a weekend that are looking for “a deal.”

By no means is it a buyers market across the board but at least it is a start. Once we hit an “official bottom” (May 2012?) that will occur. It is always said that when there is “blood in the streets” make sure you have cash and when the market is going up like gangbusters make sure you have inventory…

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