Today, is all about opinion....mine. Experience....mine. Summary of thoughts....mine.
Housing has slowed. Okay, yes, we're getting close to holidays and loans are still (as they should be) a bit challenging for some to obtain. One point that makes sense. No, I don't think the slowing down has anything to do with a housing bubble.
Interest rates @ 3.4%. Well, HELLO, we knew they'd be held down. QE 3 and all....who knows what will really happen in 2013 though.
Buyers ~ The first 1/2 of 2012 seemed like all my clients were buyers. Oh, wait, not all, but 90%, yes. Now, just as the tables have turned on the MLS regarding Short-Sales vs Traditional sellers, so have my client needs. I am now working with 90% ~ Sellers. 1/2 Traditional, 1/2 SS.
But what does that mean? Is it just my 'dumb luck' that I'm working with mostly sellers now? Maybe, but I don't think so.
In my humble opinion, I believe the housing has hit its bottom and is on the way up. I know, for certain as I've done the math, it is also less expensive to buy now than it was a few years ago, even one year ago, regardless of an increase in prices.
Buyers, you need to buy now. Figure out a way to make it happen. I believe that some of the slowness is exasperation on the buyers side, frustration, tired of the battle to find a home. And, yes, some would be the challenge to get a loan. If you can't get a loan, do something to fix your problem and try to buy a home before they get out of your affordability range.
Sellers, sell if you need to, or want a move up property. Although we are seeing a moderate increase in home prices due to lack of inventory....don't expect to see 2006 prices anytime soon. And, I think a few of my sellers know that we may bet a few more listings in the beginning of 2013 so sell now when the competition is scant.
My thoughts, enjoy. Your thoughts?