Sometimes it seems that Kim and I bring nothing but bad news for the housing industry…
However, we are eternal, not naive, optimists.
When markets are down…then opportunity is up. When markets are up…then opportunity is up…now that’s optimistic.
We live in an interesting time in a fantastic industry that has many variables.
It’s what you do with those variables that determines your success or failure.
Now for more optimistic news…
Wall Street Journal released a report on home inventories in the Top 27 DMA’s in the country…Chicago leading the way at 68,000+ homes on the market as of April 30, 2010
What is interesting about this study is the percentage % of home prices that have been reduced. When you look at the study…all of the markets with the exception of Denver have lowered the price of 30% or more of the homes in MLS.
The report goes on to state that there are 8 Million homeowners behind on their mortgage.
In the 27 DMA’s analyzed in this report, inventory was down 9.6%.
Inventory is down and prices continue to drop…Isn’t that a pre-cursor to an economic collapse?
Or is this a pre-cursor to an opportunity for a savvy real estate professional.
Millions of American homeowners need our help…so go help!
