Housing Market Slowdown

[Biggd]

Originally Posted by Descant

I agree that prices are inflated. I expect more of a leveling off rather than significant drops. I do see a lot of price drops in areas where folks bought rental/investment properties and now want to sell. In the long term a 7% mortgage isn't so bad, and there are a bunch of low down payment programs. I recall the edarly 80's when mortgages were 18% and word was that you'd never see single digits again. Whether you live-in or are a landlord, deducting expenses and leverage in real estate are a strong favorable argument to have RE as part of a diversified portfolio.

I see a lot of properties listed as contingent, curious to what those contingencies could be.
I'm wondering if some are waiting for mortgage appraisals that might not qualify for a mortgage unless the buyers come up with more of a down payment?
I've seen a few marked contingent, only to go back on the market weeks later.