It happens to me all the time...I run in to an old friend somewhere and I get "the question". "So how is the market, REALLY?"
People who want to buy or sell a house all want to know the same thing, albeit for different reasons. Potential buyers want to know if there are still "good deals" out there. Sellers want to know if they are still underwater and what their options are.
I'm a former appraiser. I like data...looking at it, manipulating it, crunching it. I'm like the guys in the Matrix, all you see is squiggly lines, charts, and numbers. I see trends, neighborhoods that are heating up, and neighborhoods that are cooling down. Just click here, you'll see what I mean (and I can give you a dozen more just like it if you want).
The fact is, here in Henry County, the market is healthy and trending in a good direction. In fact, right now we are in *gasp* a seller's market. That's right. It's simple economics, there are far more buyers than there are listings. Its not as crazy as "the good ole days" of a couple of years ago, but some of the same conditions exist. Bidding wars, new construction, and incremental price increases are the new norm. New construction is heating up in Ola, Union Grove, and Locust Grove. Its all good news for sellers.
Its not all bad news for buyers though. Prices are still very affordable and rates are still low. And yes, the banks are lending. The only caveat is that you actually have to qualify for a mortgage. Even still, a low 600's credit score and a job will get you in with FHA. VA and USDA (100%) loans are available in most of the southern part of Henry County. My lender partners can often work around previous short sales or foreclosures.
I think a lot of people are still shell shocked from the recent recession. The bottom line is that we are in a bit of a sweet spot for buyers and sellers right now. Sellers finally can get their heads above water, and the buyers can afford to buy without worrying whether or not purchasing is a smart decision.
I say it IS the right time...buy or sell.