Are you ready to buy [tag-tec]residential[/tag-tec]?
The National Association of Realtors’ second quarter numbers are now in, and from this real estate investment analysis the news is very stable. In fact, in 97 of 149 metro area markets prices went up instead of down.
What does this tell us about current market conditions?
Foreclosures may be up, but the markets are not teetering over the edge. There seems to be a steady course being maintained
There are problems in certain areas, but as these numbers point out, there is also plenty of good news. And we’re not hearing as much of that “bubble talk” any more. The bottom has not fallen out.
Is the worst over?
Not yet. Some mortgage problems will persist for several more months- maybe into 2009. But it takes a while to work through a mess like that.
Times are still very good for buy and hold [tag-self]investors[/tag-self] to buy residential properties. As we pointed out in yesterday’s post, it is the overall big picture that you want to concentrate on. Too many people get caught in small time warps of the markets.