Don't Be Afraid of the Big Bad Housing Market

RE:Don't Be Afraid of the Big Bad Housing Market

Kim Curtis — Mon, 10 Dec 2007 13:00:00 GMT

RIGHT HOME + RIGHT LOAN = GREAT TIME TO BUY Home Owners, Occupying Home Owners, not speculators need to disconnect themselves from the market news and look at the Home as a place to live and grow. When you love the home and the area, then make sure you can afford it and then don't be scared to buy it. At some point it will have been a great investment but that will just be icing on the cake, the cake is the enjoyment of owning your own home in an area you love. http://www.loanchatlive.com

RE:Don't Be Afraid of the Big Bad Housing Market

Kim Shuford — Fri, 07 Dec 2007 13:00:00 GMT

It is so refreshing to find this article! We are so inundated with bad news about the market it's becoming ridiculous! I have been telling my clients for months that it is an excellent time to buy. With the decrease in the value of homes and the rates being cut, it's a win win for many buyers. Thank you for helping to spread the news!! Happy Holidays!

RE:Don't Be Afraid of the Big Bad Housing Market

Fauna — Tue, 04 Dec 2007 13:00:00 GMT

I agree completely, but how can we, as an industry, get the word out that it is not as bad as the media keeps reporting? I have experienced neighborhoods stagnate, no one is selling, and buyers are waiting for that great deal to come along...that just won't happen. Most of us in the industry understand, but out leaders do not go on TV and explain specifically what is happening and the advantages of continuing with business as usual.

RE:Don't Be Afraid of the Big Bad Housing Market

Ken Cook — Tue, 04 Dec 2007 13:00:00 GMT

Matt - you nailed it again. I know you don't but it seems like you read my blog and blog it. As for Kim Rellehan who wrote "It appears prices will have to come off 30-50% over five years before the appreciation buyer has a chance to be back in the drivers seat! Be patient I suggest!" You are the competition I pray for as an investor. You sit there waiting for values to drop 30-50% while I buy today at 20% of future value. I blogged yesterday about the exact subject Kim raises. Great job Matt!

RE:Don't Be Afraid of the Big Bad Housing Market

Fauna Fan! — Tue, 04 Dec 2007 13:00:00 GMT

Fauna.. you have hit the nail on the head. What I find maddening in that every broker and his mother are quoting the same truthfully optomistism that Matthew here has so eliquintly (sp?) emulated. I fear that this housing crisis has painted a poor picture of the entities that are most interested and qualified to help Mr & Mrs Consumer. I feel like the broker is being black-balled by the industry. You are right! A feelgood public address in called for.. but who would be our spokesperson??

RE:Don't Be Afraid of the Big Bad Housing Market

Troy Schruicht — Tue, 04 Dec 2007 13:00:00 GMT

Great article. The time is now for the everyday borrower. The professional (venture capitalist, equity placement firms, and investors with $5 million) for months have been buying properties. Mostly on the wholesale level, but they are in the game with a big stake. This means that the your average first home buyer should get off the fence and take advantage of the markets inventory and low interest rate. Loans are easy for $417/k and you can prove your income.

RE:Don't Be Afraid of the Big Bad Housing Market

Matthew Graham — Tue, 04 Dec 2007 13:00:00 GMT

Of course the average home price is going to come down. That's what the article said. And of course, the problems aren't going away any time soon, that's what my other articles have said. But factor out the mid to high priced homes, and the hardest hit areas and there are some excellent opportunities for buying entry to mid-level homes. An "appreciation buyer?" I'm speaking to those interested in a good deal on their first or investment property, who are currently afraid to shop.

RE:Don't Be Afraid of the Big Bad Housing Market

kim rellahan — Tue, 04 Dec 2007 13:00:00 GMT

Hey, that's fine and dandy, but you obviously have no clue when that bottom might occur. Looking at house price/rental ratios at the widest spreads ever, it will be a long time before these spreads get in line again historically. It appears prices will have to come off 30-50% over five years before the appreciation buyer has a chance to be back in the drivers seat! Be patient I suggest!

RE:Don't Be Afraid of the Big Bad Housing Market

Bronwyn Leeper — Mon, 03 Dec 2007 13:00:00 GMT

Thank you for your true and uplifting article. I just had a discussion about this with an acquaintance in the coffee shop this morning. I wish I was blessed with such a forgiving market when I was purchasing my first home...