Although our market values in my marketplace continued to decline through 2008, we are seeing an increase in activity. I wrote a contract with a buyer on a bank owned property this weekend and we are one of 6 offers! The bank listed the home this week below market value and now it's a bidding war. We are seeing homes sell quickly once they hit the "wow" price. The price per square foot in many neighborhoods have leveled off and when homes go on the market at that market price - they sell. The homes that try and push the market, continue to sit. I am hopeful our market has begun to level off and stabalize.
Little Egg Harbor, NJ
I can't say we have leveled off as much as it appears you have there. But I feel mid-March will bring me some relief.
Jan 18, 2009 05:04 AM
Keller Williams Realty - Tacoma, WA
Brings HOME Results!
- interest rates sure makes it more appealing for home buyers & owners considering refinancing and should motivate them. In the article Time to Get Off the Fence and Into a Home, the same message comes in an article from NYTimes.com offered by Your Money. Another source with this message was from Smart Money, Time to refinance -- or buy a home? Good information to pass on to our buyers.
Best wishes for 2009!
Trey Affolter
Jan 18, 2009 07:30 AM
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON
Its all about the price in my market, New York City, right now. Our market has slowed and buyers are worried about falling prices, but when property is priced right, the interest comes, we have multiple offers on our listings that are priced below market!
Jan 19, 2009 01:26 AM
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