The media has put all kinds of ideas in the minds of buyers.
1) The market is terrible right now, and is continuing to decline.
2) Every home on the market is a foreclosure.
3) No one can meet lender requirements to get a home loan.
As media always does, it has taken fact, and spun it to be an interesting story. The facts are this:
1) The market has actually picked up in the last year.
2) Only about 30% of homes on the market are “distressed sales” including short sales, and bank own properties.
3) Lender requirement are stringent right now, but there are more lending options available to buyers, and qualifying for a loan is not impossible!
The internet is a jumbled assortment of information about what is happening in the housing market. Here is one situation where it’s not a good idea to just Google search for data. A majority of the most used “real estate” websites do not use up to date information. Part of the fees we pay as Realtors go to funding reliable research and data compiling. Here a few links to the sites we professionals use: