On a typical day, I am asked several times about the current real estate market. Most of the people asking me about the market read the newspaper or watch the news and have heard all of the negativity surrounding the current housing market. I try my best to ensure these people that the market is not as bad as it is portrayed in the news. National Association of Realtors (NAR) actually reported 2007 as the 5th best home sales in history. Now if you ask me, that isn't so bad!
We are currently in what is known as a buyers market and to many people that means bad. I try and ensure my clients that it in fact is NOT a bad market, it's just not a sellers market. There are sellers and Realtors both who struggle during times like these because they focus on the negative. Did anyone stop to think that what goes around comes around? NAR brings up a great point that most people who are selling homes are also going to be buying a home. In a buyers market, sellers often have a hard time accepting offers on their home for less than what they thought it was worth. Keep in mind that the homes these sellers end up buying will cost be less. In real estate there is one thing that remains constant and that is that real estate sales will go up over time. It is good to keep this in perspective when you start to feel yourself worrying about the market or your home selling for less than you had hoped for. Everything will work out in the end!
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