Today's Housing Market StrategiesBuyers are in the Drivers Seat. The long anticipated slowdown in the housing market appears to have arrived. In my own opinion, the market has settled and the applications are on their way up! I’ve spoken to many other Mortgage Planners and their saying the same thing. More applications and closings mean more home sales. Of course, gains or declines in home prices vary widely from one region of the country to another, as well as within broad regions. Areas that saw the largest and fastest rates of appreciation, like along the coastlines, are generally seeing the most drastic slowdowns or even declines in home values, while some areas where appreciation has been slower continue to experience at least moderate appreciation.

From what I’ve seen I would say that home prices are flat in my area, they haven’t depreciated so much as they haven’t seen much appreciation. I’m talking about Sarasota, Florida where we saw some of the highest appreciation in the country the last couple of years.

In the new environment, what are some strategies for homebuyers and home sellers? The first thing to keep in mind is that, for th emost part, things have shifted from a seller’s market into a buyer’s market. (is that a bad thing? NO) The main thing this means for sellers is that they must be realistic when pricing their homes. How many people did you see asking for the moon last year and then buyers would have a bidding war? Too often! Read the rest of this entry »

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