Downturn Leads to Upswing

Downturn Leads to Upswing
How a shaky market is providing unique incentives and buying opportunities to potential end-use buyers.


While the unstable housing market may seem daunting, it is also set to generate potential buying opportunities which may be too tempting to pass up. With developers eager to move units, upgrades and perks have become the norm. Appliance packages, mortgage buy-downs, comped association fees, and even cars have become common incentives. Furthermore, the steady stream of price reductions shows that even current unit owners are now more committed to selling than to a specific price. Those who are not, are quietly taking their properties off the market, leaving only the best deals on the table. This allows buyers who are patient, to see many of these properties return to, or below "true" market value before getting into them. With end-users intent to hold these properties for the next several years, the pendulous correction will ensue and the market will rebound.