Calculate Quality of Living In Your Minneapolis Duplex Financial Analysis
said on December 3rd, 2009 categorized under: Twin Cities Real Est
There are two phrases I hear over and over again these days: “When will the market rebound?” and “I’m going to wait until it does to sell/buy.”
Whenever I hear these words I always wish I had an answer to the first, because it would also solve the last.
The trouble is, absolutely no one knows when the market will rebound.
I’ve recently been more optimistic about a recovery in light of the foothold I see traditional sellers gaining in the small multi-family sector.
However, yesterday an agent who works primarily with foreclosures told me he is managing over 100 properties for a single financial institution. These are foreclosed properties, sitting empty, and deliberately being withheld from the market by the lender.
If he has that many, how many more can there be?
If you look for housing rebound predicitons among economic prognosticators, you’ll see dates ranging from the fall of 2010 to some time in 2013 or 2014.
This would be in keeping with recent history. The Savings and Loan Crisis of the late 1980’s resulted in a real estate crash in many parts of the United States. And by most accounts, the recovery took from 1989 to 1995 or 1996. In other words, six or seven years.
