December 13, 2007:

According to TReND inventories passed into a 12.6 month backlog on average this November (winter traditionally has the highest inventory backlogs). An "exteme Buyers Market" by inventory standards but the prices have risen over all 2.2%YTD and days on market are better by 1 day from last November (06) when there was 9.2 month backlog of homes on the market. Homes are changing hands consistantly!

The national news still is spooking the public even though we continue to gain (modestly) in the local markets and the interest rates on 30 yr fixed rate mortgages are at an all time low. Pressure is on the market where people who need to sell are forced to take an offer that otherwise may have seemed way too low. I say "otherwise" because if one is selling in this market as well as buying in this market it is entirely possible to get the next home at a bargain also and as long as the eye is on the goal instead of a price the same satisfaction may be had at a lower price point.

Remember December 23rd is statisticly the best day to buy a home! What could be better than to buy a home this December during an "extreme buyer's market"?