| The media was hyping the burst of the
| |
| | interest rates) then a rapid growth, or
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| "real estate bubble" for a few years
| |
| | decline, will happen.
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| before we saw the actual decline.
| |
| | That doesn't mean that there are only two
|
| Although all real estate markets go at
| |
| | ways to go, skyrocketing or plummeting.
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| their own pace, 2006 saw a general
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| | There is a middle ground, and this middle
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| decline in real estate value and number
| |
| | ground will happen quickly also.
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| of homes sold throughout the United
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| | Obviously we can't tell the future but
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| States. Due to many indicators 2007
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| | rapid real estate stabilization will
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| should see a stabilization of this
| |
| | probably occur in 2007.
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| decline.
| |
| | The deflating of the "real estate bubble"
|
| In order to understand what will be in
| |
| | occurred because of past rapid market
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| the future we need understand the past.
| |
| | growth and the fear of the market
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| With a few exceptions real estate value
| |
| | bursting. A lot of people declined to
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| has been rising since the l950's. Since
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| | buy a home in 2006 because they thought
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| 2000 interests rates were falling
| |
| | that if they waited they would get a
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| rapidly, thus making financing easier.
| |
| | better deal. Sellers, who were
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| Combined with a generally strong economy
| |
| | accustomed to being in control, didn't
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| (the 2001 "recession" notwithstanding)
| |
| | see the real estate decline as permanent
|
| this created a real estate market where
| |
| | and many decided to wait it out. Many
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| people felt they could buy.
| |
| | sellers put their move on hold rather
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| In the Internet Age, real estate
| |
| | than take a perceived loss. 2006 saw
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| information, like everything else, is
| |
| | many expired and withdrawn real estate
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| disseminated rapidly at the speed of,
| |
| | listings.
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| well, The Internet. This meant that as
| |
| | As people who deferred buying a home for
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| people sold their house slightly higher
| |
| | a while see that houses are not
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| than the previous comparable house the
| |
| | plummeting, like many predicted, they
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| next person knew about it that much
| |
| | will start coming into the home buying
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| faster. Before the Internet, with free
| |
| | market again. So the actual
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| online public records and online MLS's,
| |
| | stabilization will also happen swiftly.
|
| it would take time for a general uptick,
| |
| | This is, in a large part, due to the
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| or downtick, in the real estate market to
| |
| | Internet. 2007 will probably not see a
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| disseminate to the surrounding houses and
| |
| | meteoric rise in the real estate market
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| areas. Now, with instant access at our
| |
| | but it should see stabilization, with a
|
| fingertips, this real estate information
| |
| | slight uptick possible.
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| is gotten easily, and cheaply.
| |
| | Copyright 2007 Cy Yablonsky. Cy Yablonsky
|
| In this instant information age a
| |
| | is a Realtor Associate with ERA Othello
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| volatile real estate market is
| |
| | Realty, you can reach them at Homes for
|
| inevitable. When the perception of a
| |
| | Sale in New Jersey or Marlboro NJ Real
|
| certain type of market (sellers' or
| |
| | Estate. Feel free to reprint or use this
|
| buyers') is created and the underlying
| |
| | article as long as you keep this
|
| components are there (economy and
| |
| | paragraph and all links are live.
|
