Holiday Shoppers on the Market

I've seen a resurgence of buyer activity in the last few weeks, with serious buyers coming out, calling on properties, making offers, making deals, and closing escrows.

For individuals and families, particular circumstances, needs, and financial fortunes are always the drivers of decisions, but after a few months of sluggish activity this resurgence is welcome.

Could it be that deep price cuts have dropped prices on enough properties to entice some of the buyers sitting on the sidelines? Could be. Maybe its a little higher level of knowledge about the price/interest rate inverse relationship... that is, in general when prices drop interest rates tend to rise. The result? A wash in affordability. Maybe its the last sweep of the sponge on less than prime mortgages, where the late comers are picking up the crumbs of liberal loan offerings, thinking that tightened lending standards in the near future will eliminate them from the buyer pool. Maybe its a growing awareness that the system will not allow the housing market to crash, and that between Fed infusions of cash, the potential for raising the limits on conforming loans, or any number of politically motivated proposals leading up to the 2008 election may bail out any buyers in trouble (this last belief is largely mistaken IMO), everything will turn out fine in the end.

Then again, maybe it's just my business, going up contrary to some larger market trends. If so, it's fine with me! Keep it coming!!

Whatever the individual motivation for taking action, give the SCV Home Team a call at 661-287-9164 and let's work out the best path for you!