Life and Times of Jay McGillicuddy My blog is to help educate and send and receive expert comments about the real estate industy and have fun so stop by read and comment about whatever you like.
The market has changed to a buyer's market as opposed to a sellers market that we saw in the late 90's up until August of 2005. Once gas prices topped $3.00 a gallon we saw that buyers were no longer coming out in droves to buy homes. Home prices had skyrocketed and now more homes were entering the market place that supply was outweighing demand and we have seen prices fall and inventories rise like we saw in the early 90's.
A buyers market for sure. Wait and see....once this settles a bit the buyers will be back but it will be a lot harder finding them the right home. They'll want to look at everything and there will be a lot to look at then they'll make low offers ... who can blame them. Soon we'll see Sellers offering to pay closing costs, taxes and stuff like that to entice a buyer. Been there done that...I think I still have the T shirt in my closet! Moni
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