JULY ALREADY!!!

07.9.09

July seems to have arrived early! Here it is! The rental market has been pretty much of a 'bust' and sales have yet to spring back to any kind of normalcy. Far from it, in fact. Interest rates, though creeping up a bit, are nowhere near a 'problem' for potential business. The (up to) $8000 tax credit for first time home buyers has yet to stimulate a buying boom - no surprise given people's changed financial condition, but I thought it would create some results.

(Any) buyers out there virtually ignore asking prices, whether reduced or not, and simply 'throw' an offer onto the table to see if a seller wants to bite and negotiate. All listings essentially have their own story and therefore these buyers have nothing to lose, except possible rejection. On the other hand, some surprising responses come forth from sellers and a deal gets closed.

I can't yet say that real estate around our NW corner and over each State line has bottomed. Each sale sets a new value structure, not only for the property closed, but possibly the whole category of properties similar to it. This should not be the norm. Some buyers have lost out on a couple of opportunities as waiting has proved counterproductive to their interests.


©2009 R. Leech features.