It seems that price points in entry level residential offerings are slowly solidifying. Inventory is consistently, though slowly, clearing out.
At the beginning of the year, the seller was dropping to meet the buyer's offer point, in spite of earlier reductions. Now, in that entry level residential category, sellers are getting closer to their list price. It's about inventory, and, as it slowly clears out, we see price stability growing.
The next "best buy"/"buyer in control" property segment? The upper tier priced residential is finally finding action, and its the turn of this category to see buyer aggressive offers succeed. Perhaps by year's end/early 2013, we will see strengthening conditions in this property segment, too.
That leaves undeveloped land options and commercial/business opportunities to turn the corner into better days...perhaps by summer/fall season, 2013?
Hard assets are re-emerging as the good investments they always are.
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