A staffer at CNBC saw the Sunset Sermon video posted there, and called this morning. They are going to interview me today live on CNBC’s Street Signs at 11:10am, Pacific Time.
Here are my talking points that I discussed with her, all specific to my market:
- There aren’t enough reasonably-priced homes for sale to satisfy the demand.
- When reasonably-priced homes come on the market, they have no trouble selling. Bank-owned properties happen to fall into that category, but any home that is priced fairly gets a lot of attention early, and usually sells in the first couple of weeks.
- The only homes not selling are those that are way over-priced, usually 10% to 20% too high.
- Banks/servicers should push more properties onto the market when rates are at all-time lows.
- Many elective sellers think it is a bad time to sell, but it’s not. It is only a bad time if you want a crazy-high price, because buyers are being very patient, and are only willing to pay a reasonable price.
- Foreclosures don’t need to be discounted to sell, they sell for retail value – what they are worth in today’s market.
- Banks are fixing up their REOs before listing to ensure they are attractive to retail end-users.
See you at 11:10am!