Hello everyone and welcome to our first real estate blog on Cary real estate and home sales. Here is our take on the market as it exists now.

Many areas of the country have experienced varying levels of bubble trouble in the real estate market.  The legacy left behind by a fading market varies from city to city and region by region. Overall, here's what happens when a market starts a downturn or stagnates:

Home buyers became weary
Existing-home sales volume stalls
Interest rates nudge up
New home construction drops fast
Days on market increases
Overall home prices slide
Mortgage fraud escalates
Foreclosures rise rapidly
Subprime mortgages collapse
Home sellers become desperate
Home buyers make low offers
Surplus new construction floods the market
Builders/Developers go insolvent
Property values decline

These steps obviously do not apply everywhere or exactly in this order but living in an area with numerous foreclosures, multiple home buying speculators or even a few ruined developments has a major impact on neighboring existing home prices. On the flipside, certain places had little or no risk of housing price declines due to a strong local economy and a growing job market underpinning that specific housing area.

Now what does all this mean to the Cary market. First lets look at the Cary Remax office market share and sales for the first 6 months of 2007. Our volume was 45% higher this year than last but the total MLS sales volume for the 60013 zip code was down 26%.

Our total company volume which includes Cary, Crystal Lake, Algonquin, Lake Zurich and Palatine was up 18%. So there are 26% less buyers right now and 30% more homes on the market but Remax Unlimited Northwest is increasing sales and market share.

Sellers need to be aware that homes are selling in Cary but not at the previous volume. In order to sell your home you should have an agent with a well know company, a proven written marketing plan and be prepared to make all the changes your agent suggests otherwise you will have done nothing more than help sell someone else's house.

Buyers be prepared. Have your pre-approval letter with you and study the market. Get an agent that is full time and understands Cary. If the stock market continues to go up so will interest rates. Bill or Luanne or George only work with 6 buyers at a time, if you think this is something that you would like please call or email us.

We believe that the Cary market is stable and home appreciation will increase at a yearly rate of 1-3% overall rather than the 5-9% that has occurred.

In the coming weeks I will post community events and past sales and what is for sale in neighborhoods around Cary.

Luanne and I look forward to hearing from you.

To visit our web site CLICK HERE. http://www.PreLovedHomes.com