May 12, 2008

The 'Experts' Report

Its enough to make the most savvy agent go nuts! Reports from 2 very respected Real Estate sources this past week:

On May 6th, The Wall Street Journal ran opinion pieces with the headlines "Is Housing Slump at Bottom?" by Brett Arends "The Housing Crisis Is Over" by Cyril Moulle-Bertaux. They explain how the combination of falling housing prices and lower mortgage rates have made homes affordable again - thus signaling a revival of the real estate market. They speculate that April 2008 was the bottom of the housing market.
Based on what I'm hearing from local buyers and knowledgeable investors, they agree and are looking to invest in Dallas real estate now. They know that once the market turns upward, its a little too late to look for the great deals that are then gone.
But then on May 9th, Steve Brown of the Dallas Morning News tells us "Don't look for a rebound in the U.S. housing market this summer. Economists and housing industry leaders meeting in Dallas this week predict it will be very late 2008 or into 2009 before the battered home market begins to recover."

So get out your crystal ball and take a stab at it.

I just know that its Monday ... so back to work!

[where: 75230]

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