In most areas here in Southeastern Pennsylvania, Prices of homes are falling. They are falling here in 2008.  Some homes have fallen in price as much as 15%. Yes that is right!  As much as 15%!

In a Quakertown PA Neighborhood of 2 Story Colonials about 6 years old on average, prices are still tumbling.  As a Realtor, I personally sold many homes in Spring Meadow Estates.  In 2006, the popular price was $369,900.  I sold four at this price on the same street.  One even sold at $375,000 that year.

Now, the going price is $320,000.  That is a $50,000 declilne in price.  That is 15%.

Now is a GREAT time to buy a home in this area.  Inventories are high, prices are low, interest rates are still low.  A great time to buy.

So as a Seller, is your home priced correctly in a market when the prices are continuing to fall?

Your Realtor, ( www.bradburyteam.com) can provide you with a home market comparison on exactly what has sold in your area.  Typically, you can go back 6 months to a year and get comps on those that are currently active for sale, those that are sale pending, and those that have actually closed.  When viewing those that have closed, please pay particular attention to the seller's assist, or the money the seller had to give back to the buyer to help pay for the closing costs.  Seller's Assist is very common in thie Buyer's Market.

In this market, you may only be able to go back 3 months to get the correct comps on what is happening today.  Prices are falling.  If you think your home is better than all the other homes in the area, and most seller's do think that way, and your home is priced higher than the others, then you may be waiting a long time for Mr. and Mrs. Buyer to show up at your door.

When your home is listed for sale, in this decllining market, it is important to pay regular attention to the others homes for sale.  It is important to know the pricing on these homes TODAY.

The longer your property is not priced correctly, the longer it will be sitting on the market.

Don Bradbury Realtor, The Bradbury Team with Coldwell Banker Heritage Quakertown PA 18951 www.BradburyTeam.com  215-536-6777 x 329