The Worst "Housing Drought" ever

Not too long ago, we saw the opposite situation, too many homes and few qualified buyers.  There were plenty of homes for sale...."a dime a dozen"  We had foreclosures and short sales being chased by the buyers seeking bargains.  While 50% of our personal listing inventory involved a seller and a home under distress, adding salt to the wounds, we often had to sell a home numerous times before it was successfully carried over the threshold, meaning it actually closed.  

Today we hear about the real estate recovery but ask a buyer how they feel about the real estate market.  Ask us, we know.  Ask the Realtor who took 5 years away from the business and thought price recovery in housing meant success for all! They may respond similar to my responses a few months ago when people asked, How's the Real Estate Market?"   I got surprised glances, when I would say, "not so good", and we talk about the pros and cons that both buyers and sellers are facing these days. 
 

This market is down right frustrating for everybody except maybe the seller.  Of course, if a seller is looking to buy once they get their home sold, they will  surely face a challenge or at the least, a bit of anxiety about a roof over their heads.

Buyers should do all they can to enhance their position by being prepared in this competitive homebuying market.  

Read this CNBC Article  This is What's Behind the Severe Housing Drought
 

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