Why this is the best real estate market ever!
There is so much negative press about California’s housing market, and also the national housing market as well-yet, this is the greatest real estate market ever! You might be thinking, “How can this be true?” Here’s how: it is the market we have in front of us today, and today is our greatest day!
In all actuality, it’s not quite that simple. Buyers want a “good deal” and often refuse to come up to fair market value in their negogiations. They may need to write several offers before they actually purchase a home. In the process, they may lose their favorite home and need to settle for their 2nd or 3rd choice. Multiple offers still abound and many homes in So. Cal. are selling quickly when they are well-priced and in lovely showing condition.
Sellers with equity are competing with low priced homes owned by banks or distressed homeowners willing to let their home go for, what is sometimes, a deeply discounted price. This is a challenge, that also brings benefits. One benefit is it brings a needed correction to the sales cycle. The cycle goes up; the cycle goes down.
This is a good market for investors looking to buy now and hold for a while. Holding real estate in your portfolio is an obvious way to disversify.
Your comments are appreciated!
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