Keep things in perspective

With all the press about the woeful real estate market, no matter where you are you are wondering “should I wait”, whether a buyer or seller be.   Without question most areas of the country that experienced unreal run ups in pricing over the last few years can stand to have some moderation in the market.  And lenders are doing right by doing right, that is making the requirements more realistic in order to get that loan.
However, too much of anything is usually not a good thing, and this goes for negative press as it relates to the housing market.  As previously mentioned, buyers are waiting on the sidelines to see what sellers are going to do.  Buyers do not want to buy when prices are coming down.  They would rather wait until they feel prices are at or near their greatest value proposition before pulling the trigger.  Seller mentality can and still seems to be, although less and less as time goes on, that they will wait for things to stabilize and firm up and “wait it out”.  I’m sure most markets, and Realtors® in those markets are seeing an increased frequency of price reductions as sellers begin the process of showing higher levels of motivation.  While builders continue to offer incentives such as pools, upgraded appliances, flooring etc., most buyers I think would rather see a reduction in price.
Please read the following article on negative press, and contact me with any questions or if I can be of service. Thanks, GP

Negative
Media Stories Can Damage Real Estate Market - Many real estate
professionals insist a lot of negative publicity about the housing
market can have an effect on whether consumers will buy, sell or sit.

This entry was posted on June 26, 2007 at 3:52 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.