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Bargain Basement Buyers

The real estate news in today’s paper says things are looking rosier.  Yet, I spoke to a group of future buyers just recently, and heard calculated hesitation in their approach to the market:

www.huffingtonpost.com/lita-smithmines/bargain-basement-buyers_b_508759.html

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( 4 comments — Leave a comment )
samgoody
Mar. 25th, 2010 02:50 am (UTC)
Bargain Basement Buyers
In Chicago they recently announced that year-over-year sales are up about 40%. To me, this indicates that buyers have finally shed their fears of getting into the market and are finally jumping back in. I think that as this fear disappates, we'll see a huge influx of sales from all the buyers that have been anxiously waiting the last 1-2 years.
real_lawyer
Mar. 25th, 2010 12:15 pm (UTC)
Re: Bargain Basement Buyers
How many of those are foreclosure sales? I know they are pumping up NY suburban numbers that way.

If the numbers reflect mostly sales to bona fide buyers, that bodes well for reducing the vast inventory. If the majority are mortgage holders getting back their own collateral, and/or investors looking to flip, then the 40% increase includes a lot of inventory that will return quickly to compete for buyers.

Some days, I wish I had less questions and more answers...
alexmustang
Oct. 22nd, 2010 01:42 pm (UTC)
stats
stats are not always true, some times they work as marketing tools leading people to believe one or another thing.

Alex Mustang
Winnipeg Rentals
real_lawyer
Oct. 22nd, 2010 03:15 pm (UTC)
Re: stats
Thanks, Alex, for reading and commenting!
( 4 comments — Leave a comment )

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