Will house sellers' motivation increase with the changing market?
invite response
2014 Aug 8, 12:02am 1,047 views 2 comments
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hanera
2014 Aug 11, 7:29pm
Is a stalemate now. From several posts, the bulls here are adamant that this is just a lull and not a reversal in trend. We have up to Spring next year to find out.
phaster
2014 Aug 11, 8:10pm
Just had an agent send me a flyer for a just listed 13 unit rental (right next door to one of my rentals in SD) for 2.6 million, well see how fast that goes
Earlier this year a seven unit rental (just up the street from another property in the SD area), went for 2.5 million (that took about a month)
Basically since inventory is "tight" in the downtown area of San Diego for rentals, there have been lots of buyers trying to get in (so far at least, guess its because those lucky enough to have access to credit, aren't too happy with near zero returns w/ bonds, and feel RE is a better investment vehicle than equities)
http://ochousingnews.com/blog/will-home-sellers-motivation-increase-changing-market/
The housing market is changing, but many sellers refuse to acknowledge the cooling market may force them to lower their asking prices.
It’s no longer a seller’s market; wishful thinking and hope of a fall turnaround won’t change that basic fact. Sellers are stubborn: even during the crash, many were unwilling to lower their prices to make a sale; after all, real estate only goes up, right?
Source: http://ochousingnews.com/blog/will-home-sellers-motivation-increase-changing-market/#ixzz39oE9eqle
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