{"id":10575,"date":"2012-03-21T01:45:31","date_gmt":"2012-03-21T05:45:31","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=10575"},"modified":"2012-03-21T01:45:31","modified_gmt":"2012-03-21T05:45:31","slug":"two-extremes-in-recovering-housing-market","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2012\/03\/21\/two-extremes-in-recovering-housing-market\/","title":{"rendered":"From Silicon Valley to Florida – Two Extremes In A Recovering Housing Market"},"content":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on March 19, 2012. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

I still believe that a bottom is coming for housing in 2013<\/a>. Some areas of the country, like the Silicon Valley area of Northern California, have already left a bottom far behind. On March 14, 2012, CBS This Morning ran a segment called “Silicon Valley Surge: Facebook IPO Creates Home Sales Boom<\/a>.” One real estate agent interviewed in the piece claimed that the mini-boom in house sales really got jumping February 1st once Facebook announced its IPO. However, the following quote from a real estate agent really got my attention:<\/p>\n

“There is nothing artificial about it. It’s people have the money.”<\/strong><\/p><\/blockquote>\n

{snip}<\/p>\n

“Here, when people are talking about the housing crisis, they mean the battle between buyers that is driving UP the prices of houses.” <\/p><\/blockquote>\n

{snip} Viewers are treated to several examples of VERY modest homes with asking prices over $1M that eventually sold for 20% and more above asking. This winner sold for 43% above asking:<\/p>\n


\n
\"This<\/a>
This home was offered at $1.4M and sold sold for $2M<\/figcaption><\/figure>
\nSource: AJC News<\/a><\/strong>
\n<\/center><\/p>\n


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