ON HOLD-BUYERS

10.23.08

As buyers sit "on hold", potential deals are waiting in the wings. An example is a recent sale in South Kent which, listed originally at $7,000,000, closed at $4,000,000. Although there are not many discounted like this at around 43% off, deals are around and it is a good time to grab them, if you are able.

My opinion of these "deals" is that the settlement prices that are now occurring, are actually the real property value(s) that will exist around the NW corner for the next 1-3 years. Few, if any, will actually be steals.

Last week saw the potential for an improvement in the financial markets; whether it will have been sustained this week, by the time you see this, will be crucial for our confidence level in the real estate business in the coming months. Winter may be tough.

Enough with the negative. The last two weeks were sensational, weather-wise, around here. The fall colors were spectacular. Towns were "bustling" with people visiting the street action and on-going house tours.

Gas is down below $3.00 a gallon at many places in the State, and heading that way in nearby Mass and New York, as this was penned.

It is time for home owners to pay attention to: changing screens over to storm windows; making sure that programmed heating systems have program timers properly set, and with fresh batteries; planning their Fall maintenance programs to include leaf removal from roof gutters once the leafs are finished falling; and, making sure that all fireplace dampers are closed when no fires are being burned therein. I am amazed how often I find dampers wide open in homes, letting heat go right up the chimney. How crazy!

© 2008 R. Leech features.