Talk about a perfect storm...wow!
It's getting cold outside. I have counted snow twice. Thanksgiving has passed. Look what's around the corner...
More cold weather...Christmas...New Year's Eve...school vacations...basic lethargy relating to the time of year.
Sellers:
If you have the luxury, wait for spring! That said, if you must sell now, price your property correctly and stage the property with an eye toward your target market. For a more in-depth explanation of that last statement, feel free to give me a call any time.
Buyers:
Buy...buy...buy!
In conjunction with the cyclical issues mentioned above, interest rates remain at historic lows and, as the stock market continues to devalue, there is more and more likelihood that the FED will lower rates by a quarter to half a point in mid-December.
Bottom line (read my prior entry for supporting statements by experts), this market should swing back in favor of sellers perhaps as early as this spring. With that in mind, take advantage of this market while you have this opportunity. If you continue to wait in hopes of timing the absolute bottom of the market, you may just miss out completely.
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