Murrieta Temecula Mobile Notary

We are in the midst of a new real estate market that is quite different than it was four years ago when I became a Certified Loan Signing Agent.  Not so along ago in the recent past, it was a high-flying Real Estate market.  People were selling their homes and receiving profits of $100,000-$200,000 and sometimes even more.  Others refinanced their existing mortgages and took out the equity.  Some used their profit to purchase rental property.   Still others took their money and placed it in their dream home that they thought they would never be able to afford.  Some bought fancy sports utility vehicles, furniture ? you name it the sky was the limit.  There were a glut of buyers and a low supply of homes.

 Atlas, we are now in a Buyer?s market and that is another kind of animal.  Contrary to before, there is a glut of homes on the market and housing prices have plummeted.  Some are claiming that this is the worse housing slump since the Great Depression.  The majority of homes on the market are from foreclosures, short sales, or even bankruptcies.  Some will be fortunate enough to profit during this distressed housing market; many others will not fare so well.

Historically, the housing market has been cyclical.  Not unlike other industries, there are highs and lows.  Hopefully, this low will be over soon without leaving too many victims in its path.