So what is going on with the housing market today? Many are confused as to the state of affairs. Buyers are wondering, "Have we hit rock bottom, is this the best time to buy?" Sellers are obviously not highly motivated because of the decline we have seen in recent years. So where do we stand now? After looking at the analysis it appears that there is some hope for a revitalized market. When looking at pocket areas such as the high end, Piedmont, and particularly Palo Alto right now with Facebook's IPO looming, activity is strong due to limited inventory and strong cash flow. Also bustling is the low end market $200,000 and under, with a plethora of 1st time and all cash buyers bidding it out. It's really the middle ground that needs some new energy and growth. Historically low interest rates and housing prices have not been able to stimulate this middle market. In a time when only a few homes out of a hundred are regular sales with equity intact, and foreclosures and short sales are the norm, we will possibly see trends unlike any we've seen before. But despite fears of declining value, difficulty acquiring mortgages, and sellers not wanting to list at depressed prices, the current upswing of strong activity on both the high and low end bodes well for the middle market. Hopefully spring will show an increased vigor in this area and some relief to those caught up in this historical time for real estate. Posted by Bruce Wagg on
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