As The Real Estate World Turns

A couple of years ago it seemed that there was no price ceiling in our market and today we are asking is this the bottom? Is there a bottom?

Here are some of my thoughts on the current market.

Our inventory is starting go down and with sales up a little we can see the beginning of a more balanced market taking shape.

When Buyer's and Seller's are on equal footing prices will stablize. When will this happen? Well it is happening right now in some neighborhoods and price ranges. Especially in the $200,000 to $250,000 range.

The higher end $400,000 and up is flooded with inventory and so prices are going to continue to come down for awhile.

A couple of sayings come to mind, "No thing in "time" stays the same"
and " What goes up must come down and visa versa"


I'm sure there are dozens of sayings, but these are the ones of my childhood that remind me to be patient when I get anxious about how things are. Then I settle down and get back to work because as Scarlet O'Hara said " Tomorrow is another day"

What Determines the Value of a Home

As a Real Estate professional I get asked this question daily. I have my ideas and opinions and quite frankly they change as the "market" changes. But the one constant for me has been this: Any given property is worth what someone is willing to pay.

If you are trying to sell a property in today's market put yourself in the shoes of a buyer. Ask yourself this question:

Would I pay what I'm asking?

Today's buyer studies the market to determine for themselves what a certain property in a certain neighborhood is worth.

Buyer's also ask their agent to give them an opinion of value through a Market Survey.

Today's buyer wants to feel that they are getting their moneys worth and that their purchase will be a good long term investment.

It is important for sellers' to know their bottom line and options if the market is not willing give them what they need.

I would love to help you tune into the ever changing Real Estate market. Please feel free to call or email me your questions or better yet post to this blog with your own take on the market.