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Brokerage Parties Sense Life in the Home Market

[May 27, 2008.]

 

While the current stagnating economy and financial conditions of Americans across the country seems to indicate that the housing crisis is very far away from coming to an end, a promising number of real estate agents are starting to observe a pulse of sorts among prospective buyers looking to obtain homes across the United States.

It must be said that although it's too early to declare an actual trend in the housing market, significantly lower house prices and falling mortgage rates are catching the attention of people looking to purchase homes. In fact, a large number of real estate agents agree that, for as long as sellers are willing to cut prices, there are buyers who are willing to offer a buyout.

Victoria Hanbury Howard, a Washington real estate broker working at Coldwell Banker, agrees and says that if homeowners aren't setting their sights on lofty values for their property and set the price for their houses according to the current economic circumstances, then they can expect to sell their homes in a surprisingly short period of time.

This sentiment is shared by many other brokers in several other locations, according to the real estate giants with wide coverage such as Coldwell Banker Real Estate LLC. and RE/MAX International Inc.

If there is any sort of truth to be gleaned from these anecdotes and the circumstances hold up, then it could very well signify a reversal from what is indisputably one of the very worst slumps in the housing market in American history.

The signs of life in the market are faint, however, which could mean that the market is stabilizing rather than recovering. Also, given the horrendous mess that the market has gotten itself into in recent years, banks are demanding larger down payments and better credit from prospective buyers, an effort that is meant to avoid the enormous number of defaults and foreclosures that the market has had to suffer in recent history.

In the end, those are simple hurdles that, once passed, won't limit buyers from finding a market that offers plenty of houses at bargain prices.

 

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