While real estate market conditions, like the stock market, are difficult to predict, we have a perspective based on our experience in the market. As the number of bank owned properties (REO’s) and short sales increase with the next wave of bank releases scheduled through spring, traditional Seller’s will experience continued pricing pressure in a market keenly oriented to square foot pricing. Buyers will pay special attention to the quality, location, age and condition of a home, in addition to the overall health of a particular neighborhood.
Regardless how you slice the pie, the time to buy is NOW. All the elements are aligned and won’t get much better. Buyers financing their properties can access fabulous loans and interest rates. This won’t last forever, as money supply is projected to tighten in the spring. Home pricing rollbacks will normalize and begin to climb by summer once REO and short sale inventory is reduced and placed with new owners.
Those Buyers waiting for the “perfect moment” need to act or miss this historic “slice of living in Tahoe” window. And, we all know that “could have, should have, would have” is only a reflection.
Please feel free to reach out and touch base with Alison Elder for any of your Truckee Tahoe real estate needs by email or phone.
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