We've been talking about counter intuitive thinking in a sense for about a year so far and the main stream media keeps the mass(s) out of the BUYERS market of a lifetime and guess what," the 1,015 existing Sacramento County homes that closed escrow in February were only six fewer than in February 2007. It was the first time in at least two years that year-over-year sales didn't fall by double-digit percentages," reported the Sacramento Bee. DataQuick officials attributed the change partly to more investors buying foreclosed homes. Being in the housing and mortgage mortgage markets I hear average consumers say they are not buying in a bad market? It kills me how the mass(s) think much of the time. The smart money is looming large with the current real estate buffet of offerings. I keep telling people to get into the market - great wealth can be created over a 20 to 30 period if you buy in a very down market and and don't abuse and evaporate your equity, otherwise the uninformed can be truly locked out of the housing market in the decade to come. The feeling in my gut is when this market comes roaring back in a few years your going to see some happy homeowners. Watch the investors - when they start moving (buying) in mass(s) you know we are close to the bottom.
Investor buys accounted for 18.6 percent of February closings in Sacramento County. That's up significantly from 12.7 percent in November and December. DataQuick counts investment homes as those where the property tax bill goes to an address different from the purchase site.
Keep your flashlight on the overall market inventory. Before serious market corrections are felt on the street inventory levels need to come down and we see that happening - a little. One would have to think the influx of capital into the mortgage backed securities market will restore the "willingness" of money to make its way back into the US Real Estate Market.
