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Putting a Good Spin On the Current Market

By
Real Estate Agent with Drysdale Properties CALBRE#01140678
By now you've heard all about how bad the market is and about all the short sales and the record number of foreclosures in country.  Napa Valley is no different in that regard.  The market continues to be slow and its hard to be optimistic when your knee deep in inventory and buyers are hard to come by.  However, if I'm to put a good spin on the current market, I'd have to say that if you are looking to buy in the Napa Valley, it couldn't be a better time.  Let me explain.  In real estate timing is everything.  Current market conditions have placed an over abundance of homes for sale on the market.  This abundance, in turn, has created more competition among sellers to sell their properties and longer time on the market to sell them(on average 70+ days).  These condition have lead to a softening of the market.  Home prices have been reduced to lows not seen in a few years.  In turn, sellers are more likely to negotiate terms.  While qualifying for a loans is not as easy as it once was, those meeting the qualifications can still get some great rates.  Hummm... sounds like what the real estate market use to be.  
Brad Andersohn
Retired Executive Director of Education at eXp - Boulder Creek, CA
ActiveBrad - 707.646.1876

Hi Arthur, I see this is your first post on Active Rain.  Congratulations!!  I just wanted to welcome you to our Real Estate Industry Network! 

Welcome aboard, I hope you'll continue to blog, and invite others.  Wishing you all the success this industry has to offer.

Enjoy!!

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Jul 31, 2007 06:11 PM