I have come across articles that have outlined a narrow window for homebuyers. A drop in interest rates that SHOULD encourage action. However, many markets here in Chicago have experienced a significant drop in buyer activity with showings and contracts. Its one thing to address competitive pricing and home appearance, but what if a home sits without ever so much as being seen?

With growing concerns of the economy such as gas prices, the cost of food and utilities on the rise, consumers are down right afraid to buy such a large item as a home. I have witnessed price drop after price drop and still little has been scooped up off the market. But here is where buyers need to make a decision that could change their future for the better.

Housing Prices are dropping, yes. However, markets tend to experience more stability in pricing in the high season versus times like now around the holidays. The winter months is when you will find real estate professionals and investors looking for deals. Markets that have sold comparable properties this past Spring and Summer for 10% higher price tags than what's currently out there. What good are price cuts if no one buys? In fact, I think the lack of activity will have the reverse effect for sellers mentality with thoughts such as "Why should I keep dropping my price? No one is buying anyway." Market time means little anymore since many reasonably priced homes are racking up time. I predict this opposite is going to happen when sellers are fed up with trying to do back flips for buyers and its in vain.