How do you spell relief?
Ruth Simon of the RealEstateJournal.com (WallStreet Journal) had this to say on how the recent cooling in the real estate market effects home value:
As the housing market cools, one of the hardest decisions facing home sellers is how to price their properties.
Traditionally, brokers have set listing prices by reviewing how much comparable homes sold for in a neighborhood. Now, with prices edging lower in many places and the number of homes on the market climbing, checking comparable sales is becoming less useful. At the same time, many would-be buyers are sitting on the sidelines, waiting to see how far prices will fall. Bigger inventories of unsold homes also are making it harder for sellers to figure out how to make their house stand out amid the competition.
Amen. We've actually seen the absorption rates for Intown Atlanta (a primary indicator of the health of the marketplace) decrease significantly in the last 30 days. Almost by half. I've talked to several people "in the business" - agents, builders, mortgage professionals, home inspectors - who say they feel like it's the dead of winter, literally.
So with market inventory increasing, buyer activity decreasing, prices falling and seller panic beginning to set in...how can you ensure that your home is positioned to achieve a sale? How do you make your home stand out amid the competition?
Well, here's a little secret from your friendly neighborhood real estate professional...there is no MAGIC PILL. A proven marketing plan will certainly help your efforts and a persistent team of agents will definitely prove itself an invaluable asset as the market continues to navigate a "soft landing". Spell it with me now, T-I-M-E, will be the ultimate relief in this situation and will certainly separate the wheat from the chaff.