Decided to join the 21st Century and begin blogging about real estate in my area. Yes, I do sell it. But I’m a very analytical type, so trends fascinate me. Right now our time on the market is getting longer, and I don’t see that shortening as we approach the traditionally slower selling season. The sellers are realizing they aren’t going to achieve the kinds of prices they hoped for, but at the same time the credit crunch may affect the market and slow it still further. Too early to tell, but, IMHO, sellers in this market should talk to any buyer, no matter how low the first offer, but get that preapproval. Buyers need to be sure they can finance what they think they can, or deals will fall apart after lots of time, money, and, most importantly, EMOTION, have been invested.
On the bright side (yes, there is a bright side) buyers who were priced out of our area are increasingly able to buy, and THIS IS A GREAT “MOVE-UP” MARKET. If you want to move up to a larger house, this is a good time, if your current home is in ready to sell condition.
