Home > Buying a home, Selling a home, Supply and Demand > When I Was Seventeen, It Was a Very Good Year?

When I Was Seventeen, It Was a Very Good Year?

OK – so I’m showing my age with that quote from a Frank Sinatra song circa 1965 or so but I got to thinking a lot about this year and was it a good year or a bad year in the Real Estate business.

There are some terrible things going on in our economy which spill over big-time into the housing market.

Buyers are out there.  I’m out showing homes several times a week,  I currently am bidding on two different homes for clients. There is still activity and this is a good thing.  While some folks are scared or hesitant (which is understandable) they have  a reason they decided to shop for a house and that reason is still there regardless of any economic downturn.

Seller’s are having a harder time than in the past because there is so much inventory available it has driven the prices down.  Some cannot sell because they bought at the height of the market and the current pricing is signifcantly less than they paid. Those who are able and willing to lower their prices to the market are selling.

Some of the national economic pundits feel we’re at the worst point right now and that thing will start to turn around as we move into the new year.

So, while I can’t say it was a great year, it certainly could have been worse and I’m looking forward to a much better 2009

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