NAR Forecast Reveals A Wee Bit Of Gloom

RE:NAR Forecast Reveals A Wee Bit Of Gloom

Dan in Fontana — Fri, 22 Jun 2007 11:00:00 GMT

I was hoping to see the market improve this summer. I see so many for sale signs in my neighborhood staying up for a long time. We have three houses with wood on the windows and that means they lost them to the bank. The real estate market is suppose to pick up in the summer. It is not picking up in Fontana. Is it picking up in the high priced areas? What will happen in my area if people keep losing their houses? Will it affect my loan? Dan in Fontana

RE:NAR Forecast Reveals A Wee Bit Of Gloom

anonymous — Sun, 10 Jun 2007 11:00:00 GMT

I am sorry to predict doom and gloom, but I don't believe there will be a correction any time soon! (at least for California). The notice of defaults for the first quarter this year in Cali are at an all time high and only increasing. Once those that are not reinstated become REO's, then we will see some real price decreases. The banks must lower their prices at some point when their inventory is too high.

RE:NAR Forecast Reveals A Wee Bit Of Gloom

Rob Skidmore — Fri, 08 Jun 2007 11:00:00 GMT

I am glad to see how resilient the housing market actually is. I am not hoping for people to lose on their biggest investment. This is still a somewhat soft correction, and over time, housing prices should increase. Look how much gas has gone up. Just imagine when gas stabilizes and goes down, the housing market could soar again. People who want to sell their homes should be realistic in their prices right now. There are buyers out there just waiting for the fruit to pick. Take Care....

RE:NAR Forecast Reveals A Wee Bit Of Gloom

Peter — Fri, 08 Jun 2007 11:00:00 GMT

The numbers are encouraging for the "bubble buyers" who predict doom and gloom of 30 % pricing decreases. The industry needs healthy correction and that is where we'll be for the next year or two! Thank you for the article and remember that we are in the greatest place in the world - USA and more specifically California.

RE:NAR Forecast Reveals A Wee Bit Of Gloom

Jake in LJ — Fri, 08 Jun 2007 11:00:00 GMT

As I have always been told by those with experience, "Don't hold your breath, no one has ever predicted anything correctly or accurately. Go about your business and work with the market as it is". Think I'll listen to the wise man.

RE:NAR Forecast Reveals A Wee Bit Of Gloom

Ken Cook — Fri, 08 Jun 2007 11:00:00 GMT

I agree with Peter all the way to the last word! Just change that California to Georgia and we are not only on the same team but on the same base!