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Is the Real Estate market really as bad as it is being portrayed?

March 21st, 2012 9:18 AM by MARVIN BUSH

How many times have you heard that the real estate market is in the tank or there are a million more foreclosures coming. Well I do have a comment on that and it is this."BULL"! I get very tired of the national and local media and there continued reporting of how bad the real estate market is and the complete doom and gloom of anything related to real estate. The fact of the matter is that the mar...ket has improved dramatically is the last couple of years and in Bakersfield we are moving into a housing shortage that will end up being one of the worst that we have ever seen. Houses are selling as fast as we can get them listed and buyers are waiting in line to buy most properties. Prices have come up over the last year and we are no longer considered a declining market. So before you get discusted with the real estate market, please get the correct information from a local expert and not a 20 second news clip that are highly inaccurate. Please see the link that I have included. The market has changed so dramatically that a lot of sellers have realized that the time is right for them to put thier homes on the market and in most cases they are selling in days for at or above list price. Think about the plus' for buyers as well, home values are still at about half the price that they were in 2006, mortgage rates are still near historic lows and in most cases a monthly mortgage payment is less then the rent you would be paying for the same house. Add all of this up and you have the perfect storm of reasons why the real estate market has improved so significantly over the last couple of years.
http://realtormag.realtor.org/node/10974
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Posted in:General
Posted by MARVIN BUSH on March 21st, 2012 9:18 AM


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