Housing Inventory Ends Year Down 22%

 

http://blogs.wsj.com/developments/2012/01/19/housing-inventory-ends-year-down-22/tab/interactive/

 

Looking at all the predictions that have been made in regards to our housing market, I think that it is safe to say we can expect at least another 5% reduction in value by mid year.

Some experts are saying that we have hit the bottom, I sure hope that they are correct!  I also realize that it is an ELECTION year and those who want to stay in charge will usually say whatever it takes to do so.

My prediction will be more in line with those that predicted that the real estate bubble was going to burst.  They got laughed at and criticized on TV and in the papers.  Even the NAR (National Association of Relators) got it wrong and could in some instances be found guilty of providing misleading information to the home buying and selling public.

Robert Schiller was called "Mr. Bubble" (in a very negative way) back in 2006.  His predictions were correct!

Like I stated earlier, I think in our New Castle County, Delaware market place, we can expect to see another 5% reduction in value.  What that does not account for is how any further trouble in the world will impact our economy.  Iran is causing all kinds of trouble and Greece is working hard with the rest of the EU to tear down their economy even further.

SO, WHY IS IT A GOOD TIME TO SELL?

  • Right now interest rates are low, allowing for buyers to spend more!
  • As per the WSJ and local resources, There are FEWER homes on the market!  Less Competition!!
  • A slight rise in interest rates could and probably will cause prices to fall!
  • A $200,000 house loosing just another 5% over the next six months is really loosing over $380 per week!!!!!
  • Buyers are looking right now!

The bottom line, as I see it right now.  You are going to make more money right now by selling your home than you will in the next six months.

HOW CAN WE HELP YOU!

Thanks for reading this, 

David Sordelet

David is a Real Estate Consultant with The Team Sordelet Realty Group at Prudential Fox & Roach Realtors.

Phone: 302-476-2057.  Email: wesell@teamsordelet.com.

"Where Results Are Key"

View OUR homes for sale at http://www.teamsordelet.com.  

You can also take a look at the other services that we offer:               http://www.sellmydelawarehome.com                           http://www.mydelawarehomesearch.com                             http://www.stopdelawareforeclosure.com                       http://www.delawareshortsalerealtor.com                                       http://www.teamsordelet.com/Market-Snapshot                                      

You can also search every house for sale in our market place by clicking on this link:      http://www.teamsordelet.idxco.com/idx/4618/basicSearch.php