[quote=Nor-LA-SD-guy][quote=CA renter][quote=Nor-LA-SD-guy]Maybe it’s because there is so little inventory on the market right now,
Sometimes I think the banks are just waiting for a few more organic listings to come on the MLS so they are gauge what the real market is.
Hint, it’s not the price these foreclosures are going for.[/quote]
How do you figure foreclosures are not the market????[/quote]
Who are you going to buy the homes from once the mass foreclosures run out (and mass numbers of foreclosures will run out at some point in SD).
Also I would argue that in places that have been really hard hit, by the time builders pay all the fee’s etc.., you would have to sell at a significant premium to what these foreclosures have been selling for just to break even , unless you start building condo’s and duplex’s etc…[/quote]
Nor-LA-SD-guy, housing markets are cyclical. There are always things pulling prices up, and other things pulling prices down. When the things pulling prices up are in the ascendancy, we get upswings. When things that pull prices down are in the ascendancy, we get downswings.
Are you saying that:
a. the housing market is not cyclical?
or
b. foreclosures are not a normal part of downswings?
