Down market? What down market? It's interesting how our minds work. When you hear something over and over, sooner or later - you will end up believing it. Real estate is no different. For more than a year now we have been bombarded with national media telling us how terrible the real estate market is. And in some areas of the country.. it is. Make no mistake. In many parts of the country, the numbers are down. Way down. In our corner of the world we've dodged that bullet.
While representing buyers, and listening to our TEAM share their stories of frustration, I hear it time and again. "They are on the verge.. but not pulling the trigger". AND when they do, they are much more inclined (than before) to risk losing the right house on a low ball offer. Generally alienating the seller and ultimately paying more than they would have if they made an offer based on statistics, or worse, loosing the house all together.
A word of caution. Don't make an offer from an emotional place. Clear the mind, and make an offer based on facts. My advise is when you buy local, pay attention to the local market. Rates are good. Very good! Inventory (and temps) are climbing. Now is the time. Last week, 4 fresh contracts and 12 new listings. Perhaps we've turned a corner!