Looks like things may be cooling off in the real estate market although many experts are talking about a double dip. I am a firm believer in the Crested Butte Real Estate market that bank owned properties have set the bottom of the market. As these properties list prices get lowered by the banks they are being purchased showing buyer’s confidence that they are purchasing at the bottom. Read this great article below for some great real estate market information and buying tips.
Benson Sotheby’s International Realty
P.O. Box 210
433 Sixth Street
Crested Butte, CO 81224
970-325-3219 World Wide Cell
6 housing trends in a still-shaky market
By Amanda Gengler, writerMarch 24, 2010: 4:48 AM ET
(Money Magazine) — The drama is nearly over. After a decade of extremes — the ebullient highs of the real estate boom, then the devastating lows of the bust — calmer forces are beginning to prevail in the housing market.
The big fall-off in home values, which has taken the median price of a house down almost 30% since 2006, looks to be in its final stages in most places: Three-quarters of the nation’s 384 metropolitan areas will see prices down less than 5% a year from now, according to projections from Fiserv and Moody’s Economy.com; 10% seem poised for modest increases. Meanwhile, Uncle Sam is lending a steadying hand with programs designed to prop up the market — at least for a while yet.
In this quieter environment lie new challenges and opportunities for homebuyers, sellers, owners, and investors. For the first time in years you aren’t completely at the mercy of market forces: You can really affect how much you make (or lose).
To come out on top, though, you need to understand the key trends shaping the shifting market. You’ll find them outlined below, along with smart moves that should help you exploit them.