I’m sure you’ve been hearing about the transition in the Real Estate Market, known as the “Shift”.
According to NAR and many Real Estate publications, the real estate market is going into a recession. Which means property values will be declining very soon.
Due to the high prices on homes, homeowners are pricing their properties so high out of the market leaving buyers standing on the sidelines.
What’s predicted are homes on the market that lasted only weeks to sell, will eventually take months to sell. There are very few mortgage programs that could help buyers purchase homes with today’s prices. This means, sellers will have to price their homes accordingly for buyers to purchase homes with good mortgage rates and good programs. We certainly don’t want to get into the situation that happened in 2007, 2008.
Stay tuned for more updates. Go to www.ronpiccolo.com