Lima Ohio real estate this past year has been interesting to say the least! Homes are still selling...but at declining prices and much longer days on the market. Not to mention the flood of foreclosures still pummeling the Northwest Ohio area. I am still hoping that the historically low interest rates and financial bailout funds will help boost sales and prices back to a stable level. Unfortunately though, no matter how much credit is available or at what interest rate, the lingering issue of a buyer's outlook on their own employment future must improve before I see the market rebounding. Most buyers just don't want to commit when they are unsure if they will have a job. Just as homeowners are also growing weary of this market, most Realtors will admit this is not the type of market they got into the real estate business for. It's difficult to be the bearer of bad news to home sellers and with fewer buyers, the gratification that we as Realtor's thrive on of helping someone find their dream home is fewer and far between at the moment. Let's hope that 2009 holds a more secure economic outlook!
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