A Bright Spot in Today’s Housing Market

REALTOR® Outlook

By Kay Wilson-Bolton

July 15, 2009

It is difficult to see bright spots in this continuing market shift, but brokers and agents who are providing broker price opinions to asset managers and intermediaries determine today’s prices for shortsales, pre-foreclosures, refi’s and loan modifications are finally able to check the “stable” box, indicating that prices are not dropping– for the moment.

Industry chatter is there is a huge inventory of foreclosures ready to freefall into the marketplace in late August now that the moratorium on foreclosures has expired.

Today’s real estate market has its own shade of character: low inventory, multiple offers, over-asking prices, and appraisal failures. The components have taken some of the joy out of the much of the business, but it is good for sellers who can ill afford continued drops in prices. It is good for buyers who are the heart for tough negotiation and reasonably good credit supported by a lender who can actually close a loan on time.

News reports affirm that August will bring lots of new home choices for homebuyers. Two major lenders state that while August will begin the next phase of home selling, the peak may not be met until this time next year.

Until then, increased inventory means greater options and choices for homebuyers reflected in lower offered prices for sellers whether they are foreclosed properties or shortsales.

Bottom line?  There is an open window for a stable market for a while. Home owners who need or want to sell in the next 18-24 months should think about doing it now. Sellers who are not shortsale candidates have a better chance of selling at the highest price.

Today’s demand for homes is huge and inviting.  If you want to sell soon, contact a qualified REALTOR® to help you make that choice. Local REALTORS® will give you your best options because they know the marketplace. If you have a price in mind, test it within reason in the marketplace.

A good choice is a REALTOR® is one who has done a good job for someone you know and trust.

Kay Wilson-Bolton is the owner of CENTURY 21 Buena Vista and an REO and shortsale specialist.  She brings a regional perspective to local issues. She can be reached at 805.340.5025. Her web address is www.readysetkay.com

 

About Kay Wilson-Boltonhttp://www.kaywilsonbolton.netWith a full-time career in real estate, I can add to your bank of knowledge, not only in real estate but in many areas of life that deal with people and relationships and choices. My real estate career has taught me many lessons about planning ahead and looking forward. I believe in helping along the way so that they can be the best they can be in any situation. I serve as a Fire Department Chaplain and Coordinator for the Many Meals Project which serves homeless and hungry families in my community. The event is far more than many meals. As a result of my work with the homeless population in my community, I received the Good Neighbor Award 2017 from the National Association of Realtors and named as a Champion of Homes in 2015 by the California Association of Realtors. I make pastoral visits to the inmates in the County Jail System and offer them what God says about "all things being new" and His remarkable plan for our lives. I have served my community as Mayor and in many volunteer capacities. I serve others by serving God first. My husband is involved in prison ministry and is a graphic artist. We live a simple life in Santa Paula with an office cat named Scout, three rescued poodles and a cat named Tony Diane at home.

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