In the Seattle Times 7/7/07 Saturday Business section, an article describes a slower market, and how it is helping buyers. We have predicted for some time that conditions were ripe for increased inventory and slower sales. However, we also believe that this condition will give way to increasing sales activity as the year ends, and will be stronger in 2008. Buyers need to be aware that what they see today is about as good as it will get. Prices are not going to decrease. There have been price adjustments among many sellers that overpriced their homes when they came to market within the last 3 months. But such adjustments are just about played out. There are now some very good values that we are surprised to see being passed over. Interestingly, the upper end ($800,000-1,500,000) is very robust. Market times have not appreciably increased in the higher price range as it has in the more affordable range. What is it that high end buyers know, and lower end buyers don’t know? They know that this is about as good as it gets! The lower end buyers would be well advised to not procrastinate entry into the market. Now may be the only time that a lull in the market is seen for a few years. Choices are good, and financing is still very reasonable.
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