There have been multiple national economic experts suggesting the economy has cooled. While a correction is way over due, many folks still have their head in the sand. While the information below may be alarming, the solution is buying with plenty of equity and get rid of problem properties while some folks are still willing to pay inflated prices. It’s all about being risk free. Be as conservative as possible that can take you through the turmoil. Buying opportunites are just around the corner. Remember 2008 was paninful to many!!
Owner occupied sellers need to rethink if they want to cash out now before property values drop.
The local real estate investors association (AZREIA) clearly showed a change as per the attached slides. There is a slow down and …….it is not just seasonal. Showings are dropping and more. AZREIA 11 18 SLIDES
that it could actually hurt the economy–
Accoriing to REDFIN,
Homes keep getting cheaper
In October home sale prices climbed 4.5%, however the percentage of listings that had a price drop of more than 1% reached an 8-year high, according to new data from Redfin. …..“Sellers are now realizing buyer demand isn’t what it used to be and are dropping their prices. When buyers and sellers are on the same page, the market moves quickly, but since sellers were slow to react, we’ve seen a slowdown in the housing market.
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Aaron Norris of the Norris Group in California has the same thoughts…suddenly sales stalled. Properties that were selling quickly were now sitting and sitting and sitting. Everything that was working stopped. Properties that would have sold just 60 days prior are sitting and not even being shown……Like me, perhaps you have inventory for sale that is getting tougher to sell? Maybe you’re about to commit to a long-term project that you should think twice about. Maybe you should take a good look at your rental inventory and consider swapping it for inventory that cash flows better. California has had a nice run. How much longer is the question. And, where do you want to be when the music stops?
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