http://activerain.com/blogs/johnshomesales en-us http://activerain.com/blogsview/341172/real-estate-market-conditions <p>Many people want to know what truly are the real estate market conditions right now (Jan. '08).&nbsp; Well, from my perspective, this is more of a "normal" real estate market.&nbsp; I realize that any time you talk about a "marketplace" it is generally always changing.&nbsp; I started my real estate career in a down market.&nbsp; It was 1990 going into 1991 and a recession.&nbsp; It was a great time to learn for me.&nbsp; Properties were more difficult to sell back then than they are now.&nbsp; We used to tell people that it would take between 3 to 6 months to sell their home.&nbsp; Today, they are not necessarily taking that long.&nbsp; Here are some quick statistics:&nbsp; Newtown Township properties are taking on an average of 47 days on the market to sell and for approximately 97% of their asking prices.&nbsp; In Lower Makefield Township, homes are selling in approximately 63 days and also around 97% of asking price.&nbsp; (Statistics are from TReND, real estate Multiple Listing Service, as reported in the The Bucks Beat magazine Jan/Feb 2008)</p><p>&nbsp;The national media does not paint a pretty picture.&nbsp; But, my beliefs are that this area continues to provide consumers with good paying jobs.&nbsp; As long as there are jobs, the real estate market will be OK!&nbsp; It is like Gary Keller, founder of Keller Williams, recently&nbsp;said regarding the nations media's take on the real estate market.&nbsp; He said it is like saying that it is 92 degrees today in America.&nbsp; While it may be 92 degrees in Miami, FL, it is NOT 92 degrees in Philadelphia.&nbsp; Each and every real estate market&nbsp;is different.&nbsp; It is very localized.&nbsp; Some markets are doing very well, while others are seeing record foreclosures.&nbsp;</p><p>&nbsp;Yes, we are seeing a market adjustment.&nbsp; Home prices have come down a bit and it is taking longer to sell. But we could not have continued to see the appreciation we were seeing in the past&nbsp;few years.&nbsp; If you are moving up in price range, now is a good time to buy &amp;&nbsp;sell.&nbsp; Why?&nbsp; Because if your home has decreased 5% since last year, and your home is worth $300,000, then the house you are buying has come down at least that percentage amount, as well.&nbsp; Meaning, your home has come down $15,000, but the $500,000 house you want to buy has come down $25,000 (5%).&nbsp; If you are&nbsp;purchasing real estate, now is a good time.&nbsp; Interest rates&nbsp;are way down (under 6%), and there are more homes to look at and choose from than in recent years.&nbsp;&nbsp;</p> John McClintock (Keller Williams Real Estate) Wed, 16 Jan 2008 14:50:14 -0800 http://activerain.com/blogsview/341172/real-estate-market-conditions