Originally published April 2017
CoreLogic predicts the spring home buying season as possibly the strongest in recent memory, even with low inventory and rising home prices. CoreLogic President & CEO Frank Martell says, “A potent mix of progressive economic recovery, demographics, tight housing stocks, and continued low mortgage rates are expected to support this robust market outlook for the foreseeable future.” www.corelogic.com
I am working with a first time buyer right now. Price range is competitive; $160-200k. We have put in 8 offers and have been out-bid each time. (For the record we were first to submit our offer twice.) We lost the last bid to an offer $10k+ over list.
This, my friends, is history repeating itself. It seems we do not sell homes in Nevada, we hold silent auctions instead. The system is troubled.
The rental market is just as tight. I am renting property faster than I have time to get them ready. I believe this for a couple of reasons; 1) the homes are in quiet established neighborhoods, 2) the homes are clean and well maintained, and 3) the price is right.
House Republicans are rethinking public housing as a solution to the Section 8 voucher program. I am not a fan of public housing, but the Section 8 voucher program is also fraught with issues. (See HUD.gov for more info on public housing and Section 8.)