January 08 update

January 15, 2008 by gp.

Well it has been an interesting winter so far with the market some 30%
off from the previous year.  Slow  describes the market and the
properties that are selling are either perceived “deals” or distinctive
properties that stand out from the rest of what is for sale. 
There
will always be buyers and sellers but right now the buyers are favored
given the level of activity (anemic) and the amount of product that is
on the market. 
The commercial side is showing some signs of
softening as well as retailers find their fortunes are intertwined with
home owners concerned about economic factors. 
We are fortunate in
that this market did not have the level of residential speculation that
other coastal areas had and while things are slow going and will be for
the next 6-8 months, values are not anticipated to drop beyond what may
be considered a reasonable correction. 
Please don’t hesitate to contact me if I can be of service, and thank you.

Posted in Uncategorized | Comments Off