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Saturday, May 4, 2013

What do I have to do to buy a house??

As the spring home-buying season begins, a real estate maelstrom of market forces is making this spring one of the toughest times in memory to purchase a home.

Most agents agree, it's the ultimate sellers' market -- very few sellers and hordes of buyers.
The saying "Cash is King" appears to be the new normal. Many homes that would be purchased in a normal market by average buyers are ending up in the hands of cash-paying investors domestically and from abroad.

In a normal market, increasing demand and rising prices would encourage more sellers to put their homes on the market. But that has been slow to occur because home prices fell so low in the crash that many homeowners can still only sell their homes at a loss or for not much gain. Simply put, nobody wants to sell at the bottom. Prices bottomed only a year ago, and that means we're still too close to the bottom to see a lot of homeowners putting their houses on the market. And there's a very long way to go to where inventory is back up to normal levels.






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