The Housing Bust… The Final Chapter
Much has been said in the media about the "improving market." If you interpret that as "units sold" then yes, the market has shown some signs of life-life that has been supported by the CPR of our tax dollars. Price per square foot continues to fall.
The "shadow inventory" that folks are whispering about is real. Just yesterday I had a conversation with a Sr. VP of a Regional Bank that so much as admitted that they are holding in non-accraul status as much as $200M worth of residential and commercail real estate for fear that if they release it into the market they will crush what little life there is, and destroy what pricing support there has been.
Momma said that if you don't have anything good to say.....never been a doomsday guy, but there market is far from stable. It will come back, but it will be years before we se any appreciable gain in price per square foot.
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About Me
- Kirk Pugh
- I am a 25-year hospitality professional turned real estate broker and investor. Originally from Louisville, Kentucky, I have been blessed to live in some amazing places during the course of my career. Key Largo, Florida and Sea Island, Georgia, Southern California, Upstate New York, and numerous locales throughout the Midwest are just a few of the places I have called home. I have made Wilmington my home since 2002 and turned a passion and love of real estate into my vocation. I have been an active real estate investor for eleven years. I have purchased, rehabbed and sold dozens of homes over the course of my real estate career. Over the past three and a half years, I have dedicated myself to the practice of general brokerage. I am a REALTOR with Keller Williams Realty and offer traditional sales and marketing for buyers and sellers. I also offer consulting services to other investors. I am a past Board Member of the Coastal Carolina Real Estate Investors association. Whether for retirement, professional relocation, lifestyle changes, or investment, I have the local knowledge and aptness to help you achieve your real estate goals.
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