When Will the Market Hit Bottom?

Bill Riss, CEO of Coldwell Banker Bain in Puget Sound, says that for those who are waiting for the market to hit a "bottom" before getting back out there, there is no such thing. "There isn't a bottom. That's a state of mind. If everyone knew when the real estate market would hit bottom, we'd all wait. Nobody would buy a house unless they had an overwhelming need." He likens it to the stock market, where, if everyone knew when stocks were going to be at their lowest, they'd all buy, and then they'd all sell at the highest point. If everyone is selling, where would the buyers be?

So, when will the market hit bottom? Let's just put it this way, on a national average, even though the media has us in "crisis" mode, real estate continues to increase by an average of 5% per year. And in Moses Lake, we've been increasing by approximately 18% per year. When will Moses Lake hit bottom? I don't think it will. It will level out, but it will continue to increase. Why? Because we have industry and businesses continuing to move into town. We have buyers who want to move here from other areas and buyers who want to move up from the homes they are in. And we have sellers.

By the way, Moses Lake has 43 homes on the waterfront on the market right now. It's a GREAT time to buy! Only eight homes for sale on the water have sold in the past eight months. Come take a look at our list of homes on the water and choose your favorite one. My listing on the water is the 7th least expensive of all the homes on the market for sale. Come check it out!

I'm looking forward to a great fourth of July. I hope you are tremendously enjoying your freedoms in America as we all should. I watch the news and see that our freedom of speech is slowly being stripped away, so be on the watch for that and get involved. SAY something.

God bless you and have a great weekend!

Sincerely,
Connie Suehiro, Realtor
509-431-5804 cell
Gary Mann Real Estate
305 E. Third Ave.
Moses Lake, WA 98837

Home for sale:
1508 Shorecrest Drive NE, 1400sf home on the water, 3 bed/2 bath, large deck facing the expansive view of Moses Lake, dock, one acre, immaculate shop, 1-car garage, garden tub in master bath, hot tub outside in enclosure, $390,000.

Land for sale:
5 acres on Neppel Road, north of town, level and sloped, view, manufactured homes okay, $65,000.

NEED:
Land and homes between Othello and Royal City. Have potential buyers.
Homes in the country in Moses Lake. Have potential buyers.

Quote of the day: "First, prepare for the future. Dedicate money to an emergency fund of three to six months' worth of living expenses so you'll be ready just in case of emergency. If there's no emergency, thank God!" Second, be a giver. "God loves a cheerful giver" (2 Corinthians 9:7)