Inventory is getting back to normal... Listing inventory is balancing out in just the last month. From a scary high level of around 8000 listings, we are around 5500 active listings in mid August. This was driven from below average new listings hitting the market last month as many sellers held off due to the overall oversupply in the market, and other inventory selling.

What is still selling? Three bedroom and larger homes under $375,000, and min. three bedroom townhouses under $225,000 are both selling very well, with prices even climbing slightly. Two bedroom apartment condos under $200,000 are also selling well generally too, but depends on area. If you are debating the idea of selling your property, give us a call or an email with your address and details on your home. We will be happy to offer you specific market advice on your property to help you make the best decision for you. We don’t ‘pressure sell’ and don’t charge you anything unless we put your home for sale and end up selling it. You will know all costs up front, and exactly how much you will net at the end of the day. Tell your friends about us too, because not all Realtors operate the way we do.

What to do in a buyer’s market? Sell now! Depending on the property type, if you are considering selling you will likely get the best possible price in the next year if you sell immediately. As far as buying goes, generally now is a great time to buy. You have lots of selection to choose from for properties for sale, we often are able to find great deals, and negotiate even better deals. Current mortgage rates and products also factor into the overall home ownership costs too, and they are still very attractive. If you are worried about buying and the value going down, don’t! We’ve helped many clients buy into new homes so far this year, in many cases below market value. In a few very recent examples, clients have bought homes with $15,000-40,000 of intrinsic equity at current conservative values.