For the last 6 months, we've worked almost exclusively with investors, first-time buyers, and buyers moving here without houses to sell.
This week I've spoken with 2 families who are getting ready to move up. They both bought their homes before the big price run-up, and are carrying fairly small mortgage payments. Their homes are easily rentable for positive cash flow.
Both families believe this is their chance to buy a larger home at bargain-basement prices. One wants a bank-owned 4-bedroom home; the other wants a higher-price home where he can force competing sellers to drop their prices significantly. They'll both rent their current home out for a year or two, and then sell when the market is balanced and they aren't competing against foreclosures.
Did I just hear the next domino falling?
Your always loved dominos but never had the patience to set up a huge domino chain Realtor,
Chris Butterworth
Technorati Tags: market recovery,consumer confidence