4 REASONS I AM OPTIMISTIC ABOUT Real Estate IN 2010
Increasing Sales:
The market absorption is underway. Last year we clocked at 27% sales increase here in the Palm Springs area compared to 2008. Prices don’t have to fall further by a large percentage (as they already have from 2004/2005 high ) for sales to be generated. The window of “best opportunity” is closing.
Nothing - good or bad – lasts forever.
sellers Are Starting to Get It! :
Seller are realizing more and more each day that proper pricing at time of listing is their best marketing tool. This is still a buyer’s market. Unless you are the lowest priced, best maintained, best located property on the block it’s not a fair fight. buyers have more cash and time than sellers. Plus even if you are lowest and best --- the marketis still not on your side.
buyers Are Starting to Get It! :
Banks/Lenders are not looking at first offer received. They are imposing waiting periods such as 5 or 10 days +/- , from the day the listing first hits the market to seek multiple offers. buyers are getting the message: You may need your best offer up front – and all cash offers beats financing. The Banks / Lenders are more likely to choose one rather counter back and forth with everyone.
Lenders Are Starting to Get It:
The Process of getting a REO / foreclosure / bank owned or Short Sale to closing is improving. Everyone is simply getting better over time at making these transactions work. It’s still slower than anyone would prefer – but if you do something enough you just have to get better at it.