NAR recently released a counter campaign against the negative news that the media seems to focus on these days. (See Ad Here) I wonder if we will read that 2007 will end up being the fifth highest volume in history for real estate sales from the press. We are in an adjusted market, after coming off record breaking sales from 2002 to 2005 at record breaking prices. The nice thing about supply and demand is that there is a great opportunity at this point for buyers to obtain the American dream of home ownership at lower prices, the lowest interest rates in years and plenty inventory to pick from.
Lansing is fortunate that prices have not plummeted like other areas that had extremely inflated prices over the past five years. (East, West, South coasts) Currently there are over 5000 residential homes on the market in the greater Lansing area; however there have also been over 2300 residential homes sell YTD.
How do we fix the so called troubled market? Realtors work harder and smarter, sellers price there homes at today's prices and not 2002 -2005 price ranges, buyers get real and stop low-balling houses that are already priced competitively. A Buyer agent can provide buyers with recent sales to help make an offer that is not going to offend the seller of these well priced homes. Grand Ledge, Holt, Okemos, Dewitt, Haslett, and other suburbs in the Lansing area are not like Florida, Connecticut or California. Real estate is local.
A real estate market is a market. It's not a good market, it's not a bad market, it's just a market that everyone has to become adapted to and move forward with the positive attitude. If a seller wants to sell and a buyer wants to buy then things can happen. We survived the early 80's, we made it through the banking troubles of the early 90's and we will ride this storm as well. The Lansing area is more of a perception problem. Some people think we are like the rest of the world. Some of us choose to be different. What do you think?
There is plenty of FREE information available on my website for consumers to learn more about buying and selling, in addition to the Third Quarter report recently released by Coldwell banker Hubbell Real Estate. "Expect the Best" Mike
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