Saturday, September 13, 2008

Isn't The Market Horrible?

It's Just Different

I get asked this question on a regular basis. Continually, I let people know "no, it is not a horrible market". It is a different market than the one we experienced a couple years ago. Not horrible, just different. Actually, the market is much more normal now than it was then. As a real estate professional I feel like I have a better grip on the market and how to price properties.

Throwing Darts At A Dart Board Is Not The Way To Price Properties

Unfortunately this is how things were being priced back then by a lot of people. Even then, the prices were being escalated into heights unheard of. The demand was there and the inventory wasn't. Mixed with low interest rates and way to relaxed lending policies disaster was inevitable (as we all now know).

What About Now?

People will always need to sell homes and buy homes. This will not change. For those buying with nothing to sell, welcome to an incredible place to be! You are in a market that still has historically low interest rates and prices that are getting back into the place they should be. It is an amazing time to be purchasing a home or investment property.

If you are selling, remember you will not get what you "might have gotten" two years ago. That is the way of the market. If you have owned your home for more than three years you should still have made a great profit on your investment. Owned it for more than five years? Even better. Look at the return on your investment over that period of time, not "how much you lost" since the anomaly in the real estate market. Plus, if you are buying after you sell, you will pick up the same advantage of great prices as a buyer.

Questions?

If you have any questions about buying or selling, please don't hesitate calling or emailing me. That is why I'm here. To counsel and advise in all your real estate needs.

Take care,

Dale Chumbley

Clark County Real Estate Guide
The Chumbley Team

1 comment:

Seattle washington real estate said...

I fully agree with the views expressed by the blog writer that it is not to be termed as 'horrible market' but a 'different market' altogether.In all business domains there bound to be ups and downs depending on the economic cycles. Now, inventories are more than the demand and it is an opportunity for the buyers to click the best deal.