Housing Market Continues to Weaken
May 28, 2008
Many housing markets continue to weaken - even those that may have considered themselves relatively immune to the downturn. In some parts of the country, there is a crushing amount of inventory sitting - and thats making many prospective buyers becoming very selective for their purchases, and trying to time when they think that the real estate market will actually hit bottom.
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Real Estate Quote of the Week
"I often hear remarks from agents like, “the bank sold that house really cheap - 30% below market value”. I don’t agree with that kind of statement. If various banks are the only sellers selling in an area and they are selling all of their houses at a perceived “below market” sales price - perhaps that IS the market for that product in that area. A good price fixes any of the various bad conditions. There is no good reason to take (or keep) a listing that isn’t going to sell."
Russell Shaw - in AgentGenius from Phoenix AZPolls
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