The World Is Not Flat At The Bottom

CNBC  reporter Diana Olick blogged today that a poll came out reporting a general consensus amongst housing experts that the market would remain struggling through 2011.  Wow, now there’s a news flash.  The predictions are explained thus: as long as employment remains high and inventory continues to be added via foreclosure proceedings, the market will stay at current levels.  I have maintained that while this is not a happy-go-lucky housing recovery, it is somewhat stable, and that in and of itself, is reassuring.  Clearly the preponderance of underwater mortgages  is a huge concern, however as long as the market remains in  a somewhat stable condition, as the data supports, buyers will continue to slowly make their way into the market place taking advantage of depressed prices and other-worldly low mortgage rates.   In the end, we should be prepared for more of the same and most certainly not freak out if the numbers continue to show volatility.  After all, for one to contend the world is flat at the bottom, would require that the viewer look at it from some distant star… then again, real estate is a long-term investment; one in which time allows and requires just that: a long-term view.

About Tim Freund

Tim Freund has been a licensed real estate agent/broker since 1990. He spent 14 years as a new home sales rep, ran his own boutique resale brokerage for 5 years and is currently an Estates Director for Dilbeck Estates/Christie's International Estates in Westlake Village, Ca. Tim is a Certified Residential Specialist (CRS), an Accredited Buyer's Representative (ABR), a Corporate Mobilty Specialist (CMS) and a Senior Real Estate Specialist (SRES). Tim has successfully negotiated a loan modification for a client and is a professional short sale negotiator. Tim has been married 28 years, has 2 children, is a native Californian and has been a resident of the Conejo Valley since 1991.
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