The Bottom of the Housing Market

For the past two weeks I have given close friends the advantage of the knowledge of when the housing market would hit bottom.  They have  used the information to their advantage.

Investors have used the information to capitalize on adding rental properties to their portfolio. With housing inventories high, sellers giving away equity and mortgage rates at historic lows our investors have begun getting into the mood to purchase.

First time home buyers have also seen this as the best opportunity of their lifetimes to get into home owner ship.  We have some that took advantage of the soon to be history down payment assistance and the $7,500 interest free government loan in addition to the great buys and great mortgage rates to get into that first home.

These purchasing by smart investors and first time homebuyers are starting to chip away at the high inventory levels on new and resale homes.  These actions are the sign of the last of the decline in the home market.

I have called the Bottom of the Housing Market to be November 4.  We don’t know how long we will skid along the bottom but we are almost there and be ready for a steady but slow rise over the next few years.

Yes, if you haven’t you guessed it, that is presidential election day and no matter who wins, the media and the world will all be talking about the happy days ahead.  Any change will turn the media from the naysayers they have been to painting the rosy picture of change.

Now get out there and buy a house to help this economy and remember you have bought at the bottom of the market.

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