Low Housing Prices... But for How Long?
In a CNNMoney.com article, "Homes: About to Get Much Cheaper," the argument was made that general home prices nationwide won't bottom until sometime next year. The primary factor being high unemployment contributing to an increase in foreclosures.
But Steve Havig, 2009 President of the Minneapolis Association of Realtors, argues that for the Minneapolis Metro Area, homes are moving fast and this will eventually cause prices to rise. Many price points have already turned into Seller's Markets, with multiple offers becoming a VERY common occurrence.
Take advantage of today's limited offers! The only way to know when we've "hit bottom," is when we look back and see that it's already happened.
Ben Olson is Mortgage Consultant affiliated with Mortgages Unlimited, a Licensed Mortgage Lender - Minnesota Department of Commerce. If you would like to get pre-approved for your home purchase, please contact Ben Olson at 763-416-2620 or visit www.AskBenOlson.com.
I spend my time and money helping and coaching the real estate agents in my life, by implamenting systems that help them close more transactions every month than they ever thought possible!
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