I am attaching information I recieved at Brewer Caldwell via email about the current state of our market and how we are near or at the bottom. Please see the following information:
“This is clearly a housing affordability issue,” added Anderson. “Economic backward migration is likely during these economically challenging times. In the housing markets today, it’s not ‘what you want to buy but what you can afford’ that is driving the market.”
Anderson continued, “As Dylan once sang, ‘The times they are a changing,’ and that’s good news for builders and real estate investors. If the Fed government continues to help rebuild the economy with sound real estate economic stimuli, we may see signs of an economic recovery as early as the third or fourth quarter of 2008.”
A new study published by SMR Research Corp. appears to support Anderson’s beliefs. The study reported that the ‘housing bubble’ is now fully deflated setting the stage for a mild housing recovery, which SMR said would begin prior to year end 2008. “The recovery is likely to be gradual, with house prices merely firming up or increasing slightly, rather than returning to the strong growth they showed from 2002 to mid-2006,” the firm said.
“Our prior forecasts were accurate but widely disbelieved when issued,” noted SMR President Stuart A. Feldstein, referring to a 2004 SMR study that forecast that a ‘perfect storm’ in credit quality would cause an explosion in foreclosures within two years. “We similarly expect a skeptical reaction now to a recovery forecast, which is not the common view. But the numbers are what they are.”
Obviously, the boom years could not last forever and on a similar note the current slow market will not last forever. I believe that right now is the “perfect storm” for saavy investors. The current market has created an opportunity to purchase homes for LESS than replacement costs! Some homes are priced the same as they were over 5 years ago. If you believe now is a perfect time to buy and hold a great investment that Brewer Caldwell can manage for you please give me a call, 480-240-4773 or email bslade@brewercaldwell.com
I am attaching information I recieved at Brewer Caldwell via email about the current state of our market and how we are near or at the bottom. Please see the following information:
“This is clearly a housing affordability issue,” added Anderson. “Economic backward migration is likely during these economically challenging times. In the housing markets today, it’s not ‘what you want to buy but what you can afford’ that is driving the market.”
Anderson continued, “As Dylan once sang, ‘The times they are a changing,’ and that’s good news for builders and real estate investors. If the Fed government continues to help rebuild the economy with sound real estate economic stimuli, we may see signs of an economic recovery as early as the third or fourth quarter of 2008.”
A new study published by SMR Research Corp. appears to support Anderson’s beliefs. The study reported that the ‘housing bubble’ is now fully deflated setting the stage for a mild housing recovery, which SMR said would begin prior to year end 2008. “The recovery is likely to be gradual, with house prices merely firming up or increasing slightly, rather than returning to the strong growth they showed from 2002 to mid-2006,” the firm said.
“Our prior forecasts were accurate but widely disbelieved when issued,” noted SMR President Stuart A. Feldstein, referring to a 2004 SMR study that forecast that a ‘perfect storm’ in credit quality would cause an explosion in foreclosures within two years. “We similarly expect a skeptical reaction now to a recovery forecast, which is not the common view. But the numbers are what they are.”
Obviously, the boom years could not last forever and on a similar note the current slow market will not last forever. I believe that right now is the “perfect storm” for saavy investors. The current market has created an opportunity to purchase homes for LESS than replacement costs! Some homes are priced the same as they were over 5 years ago. If you believe now is a perfect time to buy and hold a great investment that Brewer Caldwell can manage for you please give me a call, 480-240-4773 or email bslade@brewercaldwell.com