Tuesday, October 5, 2010

The Real Estate Market is not Dead

The media has given the public at large that the housing market is dead, that people are waiting to see what happens with the economy and to keep renting homes or live in situations not suited to their needs until the economy provides more positive signs that everything will be o.k.

What's the mass media not telling you?

Well, first of all the fact that an overwhelming majority of Americans think that now is a fantastic time to buy a home. According to a recent survey by Fannie Mae, 70% of people believe that now is a good time to buy a new home. That same survey also said that "Of those surveyed, 47 percent believe home prices have bottomed, and 31 percent said prices would increase over the next year. The combined 78 percent of those not expecting further declines is up from 73 percent at the beginning of the year. "

That certainly does not sound like what the major news sources tell people at all. People are interested in buying new homes and that now is a great time to do it.

The second thing that the media is telling us is that the market is dead. The picture for this post shows an advertisement for a builder who has shown the exact opposite. McBride Homes has been selling an average 150 homes per month this year, and is on track to close 24% more homes than in 2009. They have accomplished this through aggressive marketing and discounting the homes. Buyers are looking for the best deal around in a market that is truly a buyer's market.

Combine those two facts and what you have is that there is a great opportunity for buyers to get into a new home right now at great prices, and that there is a lot to choose from. Smart buyers have a veritable smorgasbord of new homes to choose from.

The real estate market isn't dead... the deals are there, the buyers are there, but smart buyer are just finding and getting in on the best deals.

Read more about the McBride phenomenon here.

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