Housing Market Rock Bottom?

There is talk and indicators that the housing market might be reaching the bottom. According to the latest data housing prices tumbled nearly 19 percent, but for the first time in 16 months the decline did not set a new record. It’s the first time since October 2007 that the S&P Case-Shiller 20-city home price index has not hit a record low.

Is the bottom getting close? It looks like some investors and those that were playing the fence seem to think so. It will take several more months before we truly know but signs are pointing to the housing economy stabilizing. The local market seems to be picking up. The phones are ringing, the sun is out and contracts are being locked up. Homes that have been up on the market for the past six months to a year are now starting to fly off the shelf. If you would have told me two years ago that you could buy a four bedroom two and half bath home with two-thousand plus square feet for $225k or less, in King County, I would’ve wet my pants with laughter?

It’s an investor and first-time Homebuyer’s field day. There are one and two bedroom Bank Owned REO Foreclosure condos available for under $100k, duplexes and four-plexes under $350k -yes in King County. If you do the math that means with the right amount down and the correct program from William Doom you’ll be paying less for mortgage than you would for rent or in the case of an investor positive cash flow out of your property – a win-win situation. What more could you ask for? If you’re in a position to get into the game or expand your portfolio DO NOT hesitate chances like this come once in a lifetime.

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