The Real Estate Market Is Making A Change??

I am reading many new stories and blogs from Real Estate professionals and economists talking about how the market is changing.

Really, are they just noticing this? You're darn right it is changing.....better yet it has already changed. Here in southern California its changed big time. With the new homeowners Bill of Rights that went into effect on January 1. 2013, inventory levels dropped due to less distressed homes coming on the market. This caused values to rise much quicker because buyers were trying to purchase and were over paying for home just to get one.

But in mid year interest rates rose almost 1% setting back many buyers. The rise in rates made payments less affordable and many buyers fell out of the market or had to scale bake on price. This changed the market. With less buyers the inventory started to grow. More properties became available and today many are sitting on the market much much longer. In the first half of the year properties sold in less that 30 day and in many cases in a week. Not the case any more!

Many economists and real estate professionals are predicting a fall in values in 2014. I dont think they values will fall, but I do believe they will flatten out. A good things is the buyers that stayed in the market can now have a chance at securing a home and at a realistic price, they dont have to over pay anymore. I for one laughed at the many lead generation companies calling me wanting me to pay enormous monthly fees to recieve buyers leads in my area. I explained to these representative that why should I pay you hundreds of dollars for leads from people that are interested in buying a home when I cant get them one. I would be crazy to throw away my money.

But, YES today the market has changed! There is more inventory. Buyers have a much better chance of securing a home at a fair price. Typically the fall is the slowest time of year for real estate sales. People just dont want to move during the holidays. This fact along with the market change leaves a huge opportunity for buyers to get the home they have been looking for now.

Take advantage of today's market! Step up your home search before the new year. This is the best time to Buy!!!

For more information contact.

Jerry Gusman
The Gusman Group
888-213-4208
jerryggroup@aol.com