The media is constantly spouting the "downturned" housing market and how bad things are. I am sure some areas are worse than others. My market is not totally downturned but it has definitely slowed. A downturned market really depends on which side of the fence one is standing. From a sellers standpoint, if you price your home competitively, stage the home, remove the clutter and make repairs prior to putting the home on the market, you should have little to worry about. However, if you decide to sell on the spur of the moment, don't do your homework and don't have your home in top-notch condition before putting it on the market, you may find yourself with that sign in the yard for quite sometime.
From a buyer's standpoint, this is a great time to buy. Inventory is high, sellers and especially builders are willing to make great concessions, and interest rates are still low enough to make your home affordable. With this market condition, one can afford a better quality home than they could this time two years ago. In this area, builders are throwing in pick-up trucks, swimming pools and closing costs with the purchase of a new home. As a buyer, this is the time to pounce. There is no need to wait...these are the best of days from the buyer's standpoint.