Current Real Estate Market

This is my second fall in Real Estate in the Aurora Missouri area. I have to say that my Broker Dick Buehler says he has never in the twenty plus years, that  he and his wife Jody have been in the business seen such a strange and low unpredictable market. I have to agree as it has not been as rewarding as the end of my first year. The lenders and appraisers are more cautious of loans and approvals of the homes. Given the influx of foreclosures due to bad loans of years past is a sure indication of why. Of course that is my opinion, as I do a lot of Broker Price Opinions for various companies for foreclosures, loan modifications and other reasons. It is hard to believe that the same property that sold for $75,000 just three years ago is now maybe worth $36,000 due to the foreclosures we see today. It is very sad to see good people losing their homes and there is little to nothing they can do about it.