Will There Be a Double Dip in Real Estate?

I think this is a great article on the expectations by most Real Estate Experts across the country, on whether prices are going to continue to fall. Of course, most articles like this are talking about the nation as a whole, not your local area so consult your real estate professional who specializes in your market. In our local market, I believe this to be true. There will be some level of slide in prices and for the same reasons, supply going up and demanding slowing. There are many who talk about the shadow inventory coming to the market in the form of sellers deciding to sell, increased short sales hitting the market, and banks releasing foreclosures, which focuses on the supply side. The big issue on the demand side is not only has school started which takes away many "family" buyers looking to move up or down before the next school year starts, but we're also moving into Fall/Winter months which even in the best of markets, is historically a much slower season for real estate. Of course, you'll have your relocations that happen year round, but with employment #'s, that is down. You'll also have your investor buyers and those buyers only looking for a great deal, which doesn't help the common seller looking to sell now, who isn't in a distressed situation. A larger percentage of the homes selling, will be the lower priced "deals". They will then become comps, which again will pull down values. HOWEVER, even if this holds true to some level, values are low, interest rates are unbelieveable (I mean truly, they hit 4% yesterday for a 30-year fixed), and the upside of real estate, especially in our area is tremendous. THERE HAS NEVER BEEN A BETTER TIME TO BUY! Read more.. and let us know your thoughts. by Andy and Team Will There Be a Double Dip in Real Estate?