Our Real Estate Blog
Give Me Shelter 01/20/09Today's Headlines are not the story
Today’s headlines are filled with doom and gloom stories regarding the economy and the housing industry. In parts of the country, it is true, housing prices have steadily plummeted over the last year or so, while at the same time foreclosures have been increasing. For those of us fortunate enough to live in New Mexico, our experience is somewhat different than those portrayed in the national media. Overall, compared to other parts of the country, homes here did not see huge increases in value over the past couple of decades and likewise, they have not seen the sharp drops either. In the Jan/Feb 2009 issue of the AARP Bulletin, Vol. 50 # 1, it states, “While the mortgage crisis has led to record...
Posted at 10:59 AM | Permalink | Comments: 1 |
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09/15/08Give Me Shelter
I am often asked if the real estate market has hit bottom yet? Whereas, I expect the market to remain sluggish through the end of 2008, I anticipate an upswing in the first quarter of 2009. Historically, after a regime change there is an upswing in the real estate market. There is, however, the issue of consumer confidence. There is a fear among buyers that they may not be wise to purchase while the economy continues to be sluggish. As long as that fear continues to exist and available financing remains tight, the real estate market will remain soft. Currently, most economic indicators point to a continued slow down in the economy. Economic growth is near zero, consumer psychology is low, jobs and employment continue to weaken, home mortgage foreclosures are at record... Posted at 05:32 PM | Permalink | Comments: 1 |
