| Mortgage interest rates have never been this low | | | | submitted an offer on a foreclosure only to find |
| and home prices have fallen to their lowest point | | | | out 4 other offers had been submitted. |
| in many years and appear to be stabilizing. Buyers | | | | Buyers are having second thoughts? |
| who were priced out of the market in the past | | | | Uncertainty of the future - that is the reason real |
| now have a great opportunity to get the cabin of | | | | estate agents hear most often from wary |
| their dreams. In reality, it's the chance of a | | | | buyers, Many Vacation Home buyers know that |
| lifetime not to be missed. So what is the | | | | there are exceptional opportunities to buy at deep |
| problem? Where are the buyers? | | | | discounts. However, it seems to be uncertainty of |
| In talking to local real estate agents in the North | | | | the future, and to a lesser degree, market timing |
| Georgia Mountains most can't remember a time | | | | that is holding them back. |
| when rock-bottom interest rates and affordable | | | | The recession started with the bursting of the |
| prices converged in such a way. | | | | housing bubble until housing recovers the economy |
| Where are all the buyers? | | | | will likely continue to sputter. Housing led us into |
| Please don't remind me of the headlines about the | | | | the recession; housing may well need to lead us |
| still-iffy economy, European debt crisis, | | | | out. So long as foreclosures are dominating the |
| government overspending and the oil spill which | | | | sales of existing homes price will continue to |
| are dominating the news. Let's not forget 10% | | | | deteriorate. |
| unemployment and lingering uncertainty about the | | | | Everyone is afraid of buying a house only to see |
| future. | | | | it loose value in the first couple of years. Buying a |
| Other factors may include folks' inability to sell the | | | | house was once viewed as more than just an |
| homes they have so they can buy new ones. | | | | investment; it was "The American Dream" and |
| Then there's tight credit, banks are demanding | | | | the yellow brick road to financial security. |
| higher down payments, credit scores and lower | | | | Unfortunately, the "American Dream" has lead to |
| debt to income ratios. Buyers' credit and debt to | | | | financial ruin for far too many. |
| income ratios continue to be a problem in bringing | | | | Jobs-or the lack of them-is also a major |
| contracts to closing. It is no wonder the housing | | | | contributing factor to the economic crisis. |
| market is still all bound up. Also buyers are waiting | | | | Construction of new homes and finding buyer's |
| for the perfect time to buy even though history | | | | ready willing and able to buy them may well be |
| has proven time and again that timing the market | | | | the key. The poor housing market has cost |
| is difficult at best. | | | | thousands of jobs for the construction industry |
| Foreclosures continue to dominate the market it is | | | | and manufacturers of material needed to build a |
| not uncommon to get multiple offers on deeply | | | | house. |
| discounted vacation homes. Just last week I | | | | |
