Activity seems to OK here. Cheap houses and spurts of inventory.
Some of the buyers shared prices with me this week… I was floored. I think some of the prices have fallen from this time last year.
If someone asked me last year if things were on the up… I’d have said “YEP!!” If I was asked right now… I’d say “DUNNO!!”
Not sure how much lower things can go… gut says we should be done now, but there has been so much intervention by GOVT, it’s hard to know how much is still out there and still waiting to foreclose/short sell etc.
A friend of mine hadn’t made a payment in 18 months and really tried to resolve… they gave up and moved out of state. The bank seemed to just stall and stall… how many more are out there like that?
Are the flood gates of REO’s gonna open again… I hope not! If the housing market were left alone, we wouldn’t have had the “rush” for awhile, but the market could correct itself.
Just a thought.