Hold the Latte? by michele marano


Ever stood in a Starbucks line?

No longer is the rhetoric “non-fat caramel macchiato or mocha latte, hold the cream!”  For the last 2 days, I have been in 2 different Starbucks and have over-heard the same “should-of, would-of, could-of real estate woes, building chatter, and buying and selling theories of homes “now” and “then”.

What are today’s theories in Real Estate?  It depends on who you speak to.  If it’s a builder, then things may be slow but not overpriced.  If it’s a knowledgeable realtor, then they will tell you it’s a great time to purchase because of record low interest rates, considering you’re capable of getting loan approval.  It’s also not necessarily a bad time to sell, considering the fact that if you turn around and buy, the differential in savings on your purchase should offset a sale in today’s market, even if the value in your home has somewhat declined.

Opportunities are out there.  It’s just a matter of understanding value.  The time to buy is usually right, when at the same time, no-one else seems to think so.

THE FOLLOWING IS PROVIDED BY HAR COMMUNICATIONS, RESIDENTIAL SALES STATISTICS:

June sales of single-family homes throughout the Houston market rose 2.9 percent compared to June 2009.  Sales volume showed gains in all single-family home pricing segments except the $150,000 to $250,000 market. The largest increase took place among homes priced from $500,000 and above. Sales of all property types combined climbed 4.1 percent in June on a year-over-year basis.

Heavy sales activity in the high end of the housing market boosted the average price in June, but growing inventory, an increase in months inventory and a slowdown in listings under contract point to a more flattened market in the coming months.”

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