Is The Real Estate Bottom Coming Soon?

posted on my trulia blog – last year

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[start]  Ok!  I am suffering from too many numbers, quotes and opinions.  Cap Rates, Cap and Trade, Carpet Tiles, Carbon and Tire Piles.   From Obama’s economic plan and Bush’s mistakes to Barney Franks…too much clutter!

Maybe writing three offers and viewing nine homes today or the darn Starbucks at 9pm has me fired up!  I wish that place would just close… like at 6pm.

Like Obama said yesterday ” (May 13, 2009)  The stars have aligned…”  He was referring to the congress and white house being on the same side, I know.  Who cares!   I only care about the residential housing segment!  I’m most interested in the homes for sale in San Jose, Los Gatos and Cambrian, of course.

My 28 years of working in the residential housing market has made it clear to me…The Stars Have Aligned..NOW!!!!  (remember, this was way back in May of ’09 when I wrote this)

The market has bounced around, the housing segment has free fallen, like a trolley car going down Lombard street without a brake man.  The job losses are about to level off.  The truth is the housing market is preparing to make a surge big time, in my opinion.  The mortgage finance rates are so low they are nearly free considering the 5-7 year equity upside that is certainly coming.  Especially the fixed rates. (4.5% today Aug. 18 2010-then they were around 5,25%) It is bringing tears to my eyes!..or is it the coffee?

I have been writing offer after offer for buyers, lately (today),  and homes are seeing multiple offers like 2003.  It is amazing how many best buys we are finding for everyone…. I hope you’re one.   The homes for sale inventory is down from 16 months worth to 4 months worth.   Some communities are at 3 months worth of inventory.  The big question….Where is the bottom?  Um…I think it’s about to go on sabbatical.  It’s over!

If anyone is waiting…they are going to be like those in 2005 and “wanting”.

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(this revision spurred by great comments to this post on trulia) rev. ~ The difference between 2003-2005 to the present is that in 2003- 2005 we were not aware of the derivative debacle and the total slide it created.  Today, at least, we have more of the facts and can make better decisions moving forward.~ end rev.

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Market conditions have never been better.   Find a savvy Realtor, mortgage professional and your calculator and get moving on the Foreclosures and Short Sales available.    Where?  Wherever YOU want to buy a home in Santa Clara County or an investment out of the area.  Your Realtor is licensed to sell in California!  Everywhere in California!.

Don’t believe me!   Call your friends…Call your Uncle, the Realtor…Go to open houses this weekend!  Then come back here and tell me what you learned!  [end]

Well!  What do you think about that?   (polishing my nails on my shirt)

We do have many issues yet to deal with in the economy and we better continue to be very prudent in our housing choices.

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