http://www.kcmblog.com/2009/11/04/todays-talking-point-103009/ Building a Home for Real Estate Information™ Tue, 07 Feb 2012 22:58:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.kcmblog.com/2009/11/04/todays-talking-point-103009/comment-page-1/#comment-135 John Richard Wilson Wed, 04 Nov 2009 19:48:07 +0000 http://steveharneyblog.com/?p=946#comment-135 We have seen a little reprieve from the 8k tax incentive program, and an extension will help delay the inevitable for a short while, but a huge number of homeowners are in serious default with their home loans. There is a huge inventory of foreclosure properties in the tube just waiting to be spit out on the other end at a rapid pace. Short sales have become the norm. Buyers smell blood and are looking for bargains, and an increasing number will only buy discounted properties. In the end, there will be another round of rapid price decreases in most markets. Sellers need to price their properties to sell NOW before the new round of foreclosures hit. We have seen a little reprieve from the 8k tax incentive program, and an extension will help delay the inevitable for a short while, but a huge number of homeowners are in serious default with their home loans. There is a huge inventory of foreclosure properties in the tube just waiting to be spit out on the other end at a rapid pace. Short sales have become the norm. Buyers smell blood and are looking for bargains, and an increasing number will only buy discounted properties. In the end, there will be another round of rapid price decreases in most markets. Sellers need to price their properties to sell NOW before the new round of foreclosures hit.

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