Its funny to see the media all over the change in the Market.

As I mentioned here back in May, the market peaked in Activity in April and has been going south, big time, since then.

We had a very successful July and August is looking good. So whats the secret people ask - price! price! price!

We can do all the marketing in the world and we do but if buyers don't like your price, not going to sell.

So what to do. Take a look at last sales that are comparable and deduct 3-5% and put your home there. it will sell. There are lots of buyers around but they moved down fast when market did. I still come across some sellers who think its getting better. This market reminds me of 1994 all over again. Sellers wanting more than market and buyers waiting. Of course 95-2000 saw price reductions, flat market but lots of sales.

We find that when sellers adjust to new reality the market goes. There is a bottom in our market to where prices will fall but when prices have doubled or even tripled in last 9 years the days of 10% increases are gone.

But with cheap cheap mortgage money out there, why not buy? We were quoted a 5 year rate yesterday of 3.79%!!! I remember starting in market at 14%! and when it got to 9% being happy!

The buyers we are working with are finding some very good buys out there right now. and our sellers are finding if priced right that there are sales happening.

 

Ron