Monday, April 27, 2009
Bad news and good news
Here's a quickie: The bad news is that Seattle area prices are down 10-15% on average from the end of last year. The good news is that homes with list prices reduced in line with that 10-15% are selling, sometimes with multiple offers. The buyers are out there if only sellers and agents are willing to market and price houses for today, not last month or last year.
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4 comments:
Our market in Bergen County New Jersey this spring has turn out about the same. Our prices are down year over year, however if you price it to the market, you will get multiple offers also. The proble still is a bit in the high end market it is depressing more then the lower end. The upper end is still a bit unpredictable. It is off greater than the lower and more moderately priced houses.
this is sad to hear but hopefully it will pick up soon. thanks for the useful information, will forward this to some friends of mine in Seattle
It is a hard task for Realtors to convince their sellers that although their house used to be worth that much, it isn't any more and no one owes them that money.
Thanks for the update, like I've always heard.....there is no problem that price can't fix!
Real estate market also have its ups and downs so we better be ready to set-up contingent plans on how to convince buyers. It may take long but at least it's moving on.
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