3 Myths of the Market Recovery

Every time that the housing market fluctuates, no matter if it's up or down, the real estate news outlets jump on it. Between opinion articles, statistics, and everything in between, it can be a bit overwhelming, and sometimes there are a few myths that work their way into it all. The first of the latest rounds of talk is that people are saying that the upturn will be short-lived. It is impossible to fully predict the length of an upturn in the real estate market. Though the unemployment rate is still fairly high, there are good signs as well, such as the fact that banks have learned hard lessons on letting their foreclosed inventory out slowly rather than flooding the market with them and lower interest rates make it easier for those interesting in buying to make those purchases.

The second rumor, on the other end of the spectrum, is that the opinion is that everything is going perfectly and nothing could go wrong. While it can be a time for great profits in the market, don't expect it to simply come without the work. The third is that there will be an abundance of sellers. While this may be true, as many people have been underwater on their mortgage, these people will most likely be buyers as well as sellers.

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POSTED October 03 2013 3:01 PM

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