Comments on: Sell Now or Wait? What the Experts Are Saying

By: Time to Yank it Off? « Wake Forest NC Historic Properties

Time to Yank it Off? « Wake Forest NC Historic Properties — Wed, 11 May 2011 13:33:51 +0000

[...] Sell Now or Wait? What the Experts Are Saying [...]

By: Alan Gross

Alan Gross — Mon, 23 Aug 2010 13:06:09 +0000

As always we will have disagreeing experts. Here a link to a site that says there may be a housing shortage by mid 2012.

http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/believe-it-or-not-a-housing-shortage.aspx

By: Supply Goes Up, Prices Come Down. It’s that Simple

Supply Goes Up, Prices Come Down. It’s that Simple — Tue, 03 Aug 2010 11:05:14 +0000

[...] big question in real estate is what will happen with home prices over the next few months. The experts have already weighed-in predicting prices will probably take another dip down. The reasoning? Put [...]

By: Steve Harney

Steve Harney — Sun, 01 Aug 2010 16:15:06 +0000

Great points, Jeff! Thank you for commenting.This post is reporting on a particular survey of ‘experts’. In previous posts, I have directed readers to their local real estate professionals to determine how this news might impact their neighborhoods. Two quick, recent examples:

In a blog post four days before, titled ‘Are You Drowning in a Sea of Real Estate Information?’ I said:

“You must find those industry leaders in your local real estate market (both agents and loan officers) that have made it a mission in their lives to truly gather all the pertinent information for their clients and customers … Don’t get lost in the sea of information. Hire a real estate expert to help you navigate.”

In a blog post the week before (July 19th) titled ‘Are Home Prices Actually Increasing?’ I said:

“If you are selling your home, don’t get caught up in the headlines. Have a real estate professional that you believe is an industry leader in your market sit down and explain what is actually happening to prices in your neighborhood.”

In regard to your comment: “Do you know that some real estate markets have actually gotten better?”

Define the word ‘better’ so I can address this issue directly.

In my opinion, to be a ‘better’ housing market at least four of the following have to be showing improvement:
1.) unemployment
2.) negative equity
3.) months supply of existing inventory
4.) delinquency rates
5.) the amount of shadow inventory about to enter the market
6.) availability to mortgage money

I have traveled the country this past year doing 100+ presentations. I have yet to find a market that meets this criteria.

Your thoughts?

By: Jeff Belonger

Jeff Belonger — Sun, 01 Aug 2010 12:52:11 +0000

Steve… I can understand the logic to state that home prices will drop for a few more years. Consumer confidence is down… people are out of jobs.. overall, the economy is a mess. But one problem that I have with this post and experts in general. Real estate is local… from reading this post and the experts that you have quoted.. if I was a seller reading this, I would have to believe this. But wait.. what market am I in? What market are these experts referring to? Do you or these experts know that some real estate markets have actually gotten better? That home prices have increased in some areas? Shouldn’t this be talked about? Just curious… because in my opinion, this information is one-sided. And in my opinion, the fact that you have 60% of the experts agree, but not define specific real estate markets, makes this information misleading. Just curious on your thoughts about this. thanks