Pending Home Sales Up - 1/3 short and distressed sales: A piece of advice!

By
Managing Real Estate Broker with Town and Country Real Estate of the North Fork

December Pending Home Sales were UP nationally 6.3%, (Northeast down 1.7%).... roughly 1/3 distressed and short sales. http://www.realtor.org/research/research/phsdata

Sellers: your competition is selling lower... be aggressive in your pricing and do not deal with offers as you did when it was a selelrs market... Be nice to all buyers and counter aggressively.

Buyers: Indications are that we're bouncing around the bottom, probably, great time to buy! Pull that trigger and if you think the market's still lower than a seller's asking price suggests, make offers now at where you think the bottom will be...and prevent the competition outbidding you once everyone knows we're at the bottom! Especially when you need a place to live...

Posted by

Joan H. Bischoff van Heemskerck, Managing Director, North Fork and Shelter Island, Town & Country real estate Tel 631 948 0234 or jbischoff@1townandcountry.com

Comments (1)

Laurie Mindnich
Centennial, CO

Joan, great advice- things are a moving target, and sellers and buyers need to be ready.

Feb 13, 2009 10:34 AM