Real Estate Market Turn Around?

There's obviously no way to really know when the market will make a complete recovery, but think about this little thought for a moment.

It's hard to sell a house right now. Especially for an owner seller (not a bank) as they have to price compete with all the bank owned properties in their neighborhood and have to significantly price reduce to have any hopes of getting it sold.

Recently, I check the Conejo Valley for homes over $600K. The number of listings dropped by about 35% between October and now. Sellers who don't HAVE to sell, are seeing the writing on the wall and taking their homes off the market to wait for happier times.

OK, so now what? Less homes on the market, less competition. A rising numbers of buyers will start to hit the market around tax return time. Rates are still amazingly low with a 30 year under 6% right now.

Couple this with First Time Buyer Down Payment Assistance Programs (see www.FTHBLA.com for more info) and more and more buyers will be in the market.

Add buyers, reduce inventory and what happens. The market sparks. Yes, more bank owned properties will be hitting the streets in the next six months, but then things should start getting back to normal and prices will at minimum stabilize.

If you are a buyer in this market, now is the time to reap the best deal, get the aggressive help from a seller.

Once buyers see the market turning around, so do sellers and they'll be less likely to wheel and deal.

Check out www.StraightTalkRE.com for the Real Estate Radio Talk Show that can be heard live streaming!!!

~ CHUCK