I have been blogging lately about mixed signals, mis-information (whether intentional or not) particularly from national franchise brokerages trying to paint a rosy picture inside a muddy landscape, and buyers and sellers being VERY CONFUSED about the state of housing market. Is it getting better, or getting worse? Or staying the same?
Buyers and sellers are not the only ones confused.... many real estate agents, including myself, are equally confused. Just when you convince a client to lower their listing price, a similar home down the street sells for a higher price (which of course makes you feel like an IDIOT, having just done an exhausting study of "comps"). Then a week later, a similar home sells for a much lower price than where you were advising your client to list at. Then a bank owned on the same street, sells at a HIGHER price than similar comps and a "non-banked owned, non-short sale" sells at a much LOWER price than similar comps. The market is crazy!
For home buyers looking for great deals right now, the longer they keep looking, the better it seems to get for them...... leading me to believe that the market is NOT improving, at least right now, in this La Quinta CA area, and in fact prices are still dropping in many cases as sellers finally decide to throw in the towel, and lower their price to compete with bank owned and short sale listings.....
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