I am seeing prices drop like flies in the Prescott Arizona area. Land is finally becoming affordable.
Yes people can now buy nice pieces of land and or lots under $100,000.
I am seeing buyers looking at buying and holding and even some that are looking to build a spec or two. That is good news.
There is some light at the end of the tunnel, I hope.
I don't think I am the only one who was looking for 2007 to end.
What do we have to look for now.
I think and it is only my thinking. Things may pick up it being a election year.
I also feel that the sellers are starting to realize that prices got really inflated and are starting to drop them, even if it means they are going to have a loss. I talk with sellers all the time and some of them can see the writing on the wall. They look at there gains and figure having a loss or two is expected. Then there are those who still think they should be doubling there money.
The selling market dosen't seem to be rising.
The buyers are not making full price offers and are asking for closing costs too.
The question sellers have to start making are, Do I take a lower offer or risk losing the buyer if I counter.
That is a tough question in today's market.
Well anyway enough rambling. I haven't been on in awhile.
Happy New Year and may you help your clients prosper.
By the way it will help you to prosper too.
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