April Comments (2009)

There is SOME movement in the market in the normal ($450,000 and up) market. While there has been good movement in the "investment market" (below $350,000) the normal market has lagged -- and although there are not a lot of short-sales and foreclosures in the normal market, those few still set the price range.

Consequently, it is hard to sell "normal" homes because they must compete with homes offered at distress prices.

Nevertheless, a well-priced home WILL sell. I have sold on home, listed at $729,900, TWICE in the past month. All agents report more people looking, because it is obvious that we have reached, if not the bottom at least close to it.

We see more and more homes that have failed to sell in the past coming back on the market, and while that complicates the market by increasing the inventory, it also demonstrates that Sellers believe their homes might sell this time.