It seems like every real estate blog that I have read has nothing more to say than how bad the real estate market is. For example, a recent excerpt from InvestmentU.com stated that:
"By this time next year, home prices in places like Nevada,
California, Florida and Arizona will not be down 5%, as the experts predict, but
could fall two or three times that number, according to Karim Rahemtulla ,Chairman of Mt Vernon Research " To read more...
I must agree, it is much slower than it has been in the past 10 years that I have been a professional Realtor.
But we are located in the Midwest, not a coastal town that has had mega
speculators. I believe that the media hype for the most inflated areas
of the market is affecting the psyche of buyers nationwide. The more
the media plays on the fears of todays consumers, the longer the market
will take to balance out. All the talk of a "buyers market" has
affected the buyers who are willing to purchase, by giving them a nose
for blood! Remember when the interest rates were 13%? You didn't hear
anyone screaming "the sky is falling!" I say it is time to move
forward, accept that you may not make $100,000 in 6 months on your real
estate investment, start buying houses again so we can give the media
something else to talk about.
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