While nobody can predict the market and what the future holds, all the indicators point to more of the same for 2008. Home prices will continue to decline.
According to Banker and Tradesman- January 2008 foreclosures doubled from January 2007. This data along with other economic indicators will continue to drive home prices down.
Is this a bad market? Well that depends on whether you are a buyer or a seller. This market provides perfect opportunities for home buyers now.. Interest rates remain low. Home prices are lower. Take advantage of it and get a really great deal on the home of your dreams.
If you are a home seller, price your home right and stage it well. A well priced home in great condition will sell!
Did you know that 80% of the homes on the market will not sell? There is no such thing as a "Unique home" that commands a higher price for a unique buyer?
Houses are now a commodity due to high inventory.
Home buyers shop up, looking for value. When value superceeds price, buyers make offers. Today's home buyers prefer subdivisions, hardwood floors, decks, fresh neutral paint, open floor plans, stainless appliances, ceramic tile, mechanicals in good working order. If a home is dated and needs work, the buyers will pay a little more for something that doesn't need all the work.
If you are motivated to sell your home, contact me for a FREE 20 page booklet filled with lots of tips to help you sell for top market dollar.
For a MLS listings, Real Estate News, and homes for Sale in Massachusetts, please visit my website at http://www.LincolnTeamRealEstate.com
Lori Lincoln and her team sell Real Estate in the following Massachusetts cities and towns: Taunton, Rehoboth, Dighton, Swansea, Somerset, Easton, Raynham, Middleboro, Assonet, Freetown, Fall River, Seekonk, and surrounding areas