Comments
|
There is another reason why the move up buyers aren't "moving up." The owner of the move up houses don't want to lower their asking prices to accomodate the balance in lost equity from the starter homes. So what we have now is an abundance of homes over half a million, and no qualified buyers. Whereas, the starter homes for $200k have plenty of buyers waiting, and the banks are not emotional about getting a specific price they feel they "deserve" for living in the house such and such years. I still think we will see the higher end homes start falling like dominoes when the ARM resets force the homeowners that bought more than they could afford out of their homes in better areas. 2010-2011 will be peak buying season for those who have patience for the really good deals.
|
||||
|
||||
Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.
| Topic | Updated | Last By | Comments |
|---|---|---|---|
| Cartus lays off workers (Sep '08) | 31 min | Perplexed at... | 770 |
| Tight home inventory triggers competition | 2 hr | LABornAndRaised | 6 |
| Private Fund - Need 1B+ BULK REO!!! (Mar '09) | 5 hr | Cindy | 43 |
| October home sales rise 10.1 percent from Septe... | 6 hr | change sucks | 16 |
| diesel d2 / jet fuel jp54 for sale (direct russ... (Dec '08) | 7 hr | Costel | 226 |
| Morningstar calls Forest City stock worthless, ... (Feb '09) | 8 hr | RJF Dupage | 370 |
| Agent showing house finds pile of bones | 10 hr | kaitouinu88 | 10 |