Real Estate Today

If I could offer one piece of advise to anyone selling a home right now, it would be this: Don't dwell on the past. Let it go.

It's no secret that the real estate market has taken a substantial hit in the last year-and-a-half. But it's not necessarily a bad thing.

It' s more of a normal market now, as opposed to a market that was off the charts in appreciation when the local and national real estate market peaked in the spring of 2005. Sellers can no longer name their price and expect multiple offers with a fast closing. You'd be lucky if you get one offer let alone two.

The market has dipped, but is far from crashing and I don't expect it to. Today, assuming you have put a good effort in marketing the property it would take 60-90 days to sell as opposed to 15-30 days during the hey days of real estate. That trend is supported by the MLS data.

The key to moving a house as soon as possible in this soft market is establishing a reasonable price. Sellers should compare their homes with those similar to theirs that have sold in the last two or three months, not those of one or two years ago.

As an example you can't say Gee, my neighbor sold his house down the street a year ago for one million dollars, I should get 1.3 million for my house now. That won't happen, you're probably going to sell it for $950,000.

The recent drop in the market is not a bad thing, but rather an inevitable turn for a market of inflated values. This is a much more normal market and one that compares well with historical trends. Ten years ago six to nine months was the norm for days on the market. Where not there now. As long as sellers are willing to be reasonable and patient, they will be able to sell their homes.

For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group