The Real Estate Market Is Slow

Another piece of evidence of a Slow real estate market is the report that Orange County is on track to have the fewest mortgages taken out in over a decade. Wow, that really is another piece of evidence of a slow market. We can see a slow down in the purchases but with interest rates so low I would have thought that we would have had people flocking to the refi market. Buyers I thought would have kept coming after the tax credit for the low interest rates and the low prices of homes. But they are not!

What is causing the drop in mortgages in the county?

• Fear of the market the homeowner is confused. It seemed to be going up when the buyers were getting a tax credit and now is looking slow and week.

• Fear of losing their jobs. The economy is slow and the jobs market is very bad. Many are out of work or taken jobs that earn less than their previous job.

• Lack of confidence in the overall economy, therefore, they do nothing stay the coarse and look for a direction before doing anything.

• Tighter lending standards.

I am not sure what is going on but I do know this is evidence of a slow real estate market.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!