Market Update: Buy, Sell or Hold?
Source: YouTube Submitted by: BarbaraCorcoran
The latest figures show that the housing correction is far from over. Foreclosures are up for both subprime and those loans with better credit. Banks are evaluating buyers more. They are also tightening their lending standards, specially for the subprime market. All these coupled with a rise in mortgage rates have caused buyers to become hesitant to jump into a market that is yet to hit the bottom. A lot are waiting for a good buy. However, experts foresee the correction would end towards the end of the year.
Given the present market conditions, is it a good time to buy, sell or hold?
According to Barbara Corcoran, a real estate expert:
BUY: Now is the best time to buy. Don’t wait or you might missed out. There are a lot of good deals out there. Don’t wait to buy when everyone else decides to go back into the market because by then the prices will be up again.
SELL: If you want to sell, you should either be the prettiest or cheapest house on the block. To make your house the cheapest, make the price 5% lower than the cheapest house. According to Barbara Corcoran, this will definitely help.
HOLD: If you can, hold on to your homes for 6 months. It will pay in the end even with the rise in interest rates.
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POSTED IN: Breaking News
1 opinion for Market Update: Buy, Sell or Hold?
Century 21 CEO Lost $200,000, But Still Happy…
Aug 27, 2007 at 9:42 pm
[…] only realize your profit or loss when you actually sell your investment. At this market, if you can hold off from selling then do so. Otherwise, it is better to be realistic with your prices rather than have a stale […]
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