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The Media is really playing up how the Real Estate Market "Bubble" has popped. I think that if everyone starts believing what they are hearing, it is possible that it will happen - remember the story about "The Sky is Falling, The Sky is Falling". I am still seeing quite a bit of activitiy in our geographic area, my office is Century 21 Market Place, Ltd in Mundelein, Illinois. Sellers are still putting their homes on the Market, Buyers are still looking for a new home and Interest Rates are still at Great Rates and have even dropped recently, too. So is it a "Bad Market? I wouldn't say it's Bad. We do have a larger Inventory of Homes on the Market compared to Last Year, but as a Buyer, that gives you more to choose from, and due to competition you may get a little better price. As a Seller, you have more Competition, so you need to make sure that your home is Priced Fairly, Ready to Sell (in the Best Shape Possible - Clean, Staged, No Clutter, Looking it's Best) and Marketed using all the Tools. I don''t think we are going to see the glut of "Multiple Offers" that we saw over the past few years. This may slow appreciation down to less than 5% or make it flat this year - but did we honestly think that appreciation could keep going at the double digit rates it has been growing at? I think that we are seeing an adjustment - but nothing like the Stock Market - people will always need a home and our personal situations will make moving to a new home or new area a necessity.
Written by Bob Wallen
The Media is really playing up how the Real Estate Market "Bubble" has popped. I think that if everyone starts believing what they are hearing, it is possible that it will happen - remember the story about "The Sky is Falling, The Sky is Falling". I am still seeing quite a bit of activitiy in our geographic area, my office is Century 21 Market Place, Ltd in Mundelein, Illinois. Sellers are still putting their homes on the Market, Buyers are still looking for a new home and Interest Rates are still at Great Rates and have even dropped recently, too. So is it a "Bad Market? I wouldn't say it's Bad. We do have a larger Inventory of Homes on the Market compared to Last Year, but as a Buyer, that gives you more to choose from, and due to competition you may get a little better price. As a Seller, you have more Competition, so you need to make sure that your home is Priced Fairly, Ready to Sell (in the Best Shape Possible - Clean, Staged, No Clutter, Looking it's Best) and Marketed using all the Tools. I don''t think we are going to see the glut of "Multiple Offers" that we saw over the past few years. This may slow appreciation down to less than 5% or make it flat this year - but did we honestly think that appreciation could keep going at the double digit rates it has been growing at? I think that we are seeing an adjustment - but nothing like the Stock Market - people will always need a home and our personal situations will make moving to a new home or new area a necessity.
Written by Bob Wallen
posted by SoldByWallen-Bob Wallen at 1:30 PM
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