A fascinating comparison! What do YOU think…..is it easier to sell a house you have listed today….or would you have had a better chance selling in 2007? The 2007 market was about the strongest we’ve ever seen. The 2010 market was about as weak as we’ve seen. The facts:  You see that in 2007, we sold about twice as many homes during the year as were listed at the beginning of the year. That’s about six month’s supply of houses for sale. Perhaps you would have guessed that. No one I’ve asked comes close to guessing that your chances of selling your house were about the same in 2010 (and so far in 2011, by the way) as they were in 2007! More precisely, 2010 was fractionally better. HOW CAN THAT BE? We have about 25% fewer homes on the market than we did a year ago (5556 then, 4196 now). Year to date, sales are actually UP a little bit, from 6371 to 6406. Really, it’s quite simple. Our inventory is down, our sales are going up. Prices are lower than they were in 2007, but you have a better chance of selling…..IF….you’re priced right and lookin’ good. Buyers are different now than they were in 2007. They’re now in two primary camps. The “A” camp has experienced three years of prices dropping and more houses coming on the market….so they’re very selective. They see this as a once in a lifetime chance to get a great house at a great price and an even better interest rate…. And they want to get it right. Brokers will tell you that in many price ranges their buyers have seen all the active listings….but haven’t found the “value” they’re looking for….yet. They’re waiting for a house to come on the market, or where the price is lowered to their price range. They want it to be beautifully presented and priced right. The “B” buyer’s camp has experienced the short sales and the foreclosures. With few exceptions, the banks and other sellers appear to be doing all they can do drive their own values DOWN. The buyers have to put up with unreasonable contract requirements, awful maintenance (dead lawns, frozen pipes), a general lack of concern by all concerned (months and months to get a contract accepted), and a terrible presentation of these once valuable properties. This “B”camp of buyers knows that, if they’ll put up with the shenanigans, their reward will be a sales price low enough that they can buy a big bottle of aspirin for the headache, take a risk, do the repairs, and come out ahead. Sellers, do all you can to put your house in the camp of the “A” buyers, or adjust your price to compete in the “B” arena….you’ll have an offer soon. When sellers adjust their prices to within 3% of the buyer’s perception of value, they’ll have an offer, on average, within thirty days of the price reduction. Buyers, tell your broker whether you’re looking for an “A” house or a “B” house….and HAVE FUN! If you or anyone you know would benefit from our “Remarkable Real Estate Services”, we promise your referrals will be treated with the utmost Respect, Integrity, Dedication and Honesty. | 
