Entry Level Home Prices Holding Close To Their Value. Why?

It's a beautiful thing.  While homes in the higher price range are seeing huge hits on sales price to list price ratios there is still a range of home that is holding true - and coincidentally it's the same meta-market that holds true in any economy.  Who's that?  The first time home buyer.  The entry level range here in the Dayton is the magic $150K and below.  Those homes are holding much closer to their values as long as the following criteria are met.

1. It's priced right as in any market
2. It's staged well and shows move in condition

Don't get me wrong. What's happening right now with the foreclosure market and the banks and the insurance companies, yada yada yada, is a bit of a nightmare, but we're going to come out of it.  The key thing to note is while you're seeing big cuts in the higher ranges don't hesitate to hold true to the home prices at the markets base.  That's what's going to help the higher priced homes become a bargain when the market recycles into a more realistic stratosphere. 

So take heart and go out there and get those listings in the entry level because they're in part what's going to be the glue that's going to help keep it all together, and you can make a client for life!