Last summer your neighbors put
their house on the market and had so many buyers that they were on the winning
side of a bidding war. Now you are trying to sell your home, and there's just no
action.
The real estate marketplace is very fickle. Many
factors come into play, the most important being interest rates and prevailing
sales prices. In a strong seller's market, prices tend to escalate until they
reach a certain point where buyers begin to just say no and listing inventories
increase. When this happens, sellers who price their homes at the higher level
of previous sales prices must re-think their pricing strategies. If they don't,
their homes may not sell. Whether you are buying or selling a home, it is
important to remember that the shift from a seller's to a buyer's market can
occur very quickly. You can count on us for sound advice on what phase the
market is in right now.
