And This Is A Good Thing!
OK. Read the link below about the fact that there are fewer listings on the market now than a year ago.
So, why is this a good thing? Well, first of all, for all those home owners that have been hearing about all the foreclosures and competing low priced inventory - you have a window of opportunity!
Yes, if you have followed the business news (or even our blogs) you know about the many problems that the largest banks and bank servicing agencies have had processing the huge volume of foreclosed properties around the country. Well, the bank's pain is the curent Sellers's gain! Fewer bank-owned properties on the market benefits all other Sellers.
The fact that interest rates remain relatively low and the inventory is free of the "glut" of foreclosures that we know could be on the current market - creates a more positive market condition for home owners that might want to sell now at higher prices.
The old saying "timing is everything" really applies to this period in the real estate market. We truly do not know what the future holds as to market value for real estate. Will home prices continue to go down? Or will the long term trend return to real estate markets; that is that real estate always appreciates over time!
With this uncertainty or big questions even being asked now about trends in real estate pricing, we advise that people who (for whatever reason) want or need to sell their homes - do it now! We do not know the future either! But markets that have fewer sellers will generally do better than when the inventory of homes to sell is at record high levels. And that seems to be the situation right now. Measure the need to sell verses the current market conditions. Then call us. We think this is a very good time to list with us or any other good real estate broker to list your property for sale. But don't wait too long....that "shadow inventory" of bank owned properties will hit the market eventually. We suggest that you act today.