Dropping Prices

Every buyer seems to be waiting for the prices to fall further. That may happen. However, on a lot of properties, it won't happen b/c the seller is at rock bottom already. Many sellers have taken equity out of their homes over the years and how as much or more than the home is now worth. Many tried to sell last year, but they were greedy and didn't try hard enough. Now, with prices falling, they have reduced their price to the point that they can't go any lower. Many can't even negotiate the listing price that they are currently at. They have come all the way down to the point where they will soon have to take it off the market. This will actually help the market correct itself and eventually send us back to a sellers market. It seems that I meet a couple of agents each day that have at least one listing like this. With so many out there, I sense that buyers who are making low ball offers are starting to get the message. Some sellers do have room to negotiate, but many don't.