Real estate up from rock bottom?

I’ve heard a lot of talk lately about whether or not we’re still in a recession, and furthermore, how horrible the housing market appears to be.

Well kids, numbers don’t lie. A fellow custom home builder forwarded this Wall Street Journal article to us last week. The article clearly illustrates how real estate values hit the bottom sometime during the second quarter, and have actually risen since. See for yourself here.

With real estate values down nearly 30% from their 2006 high and prices on the rise, this market epitomizes the theory of being in a “buyer’s market.” For buyers, that signifies that there hasn’t been a better time in the last three years to buy a home. Inventory is at an all-time high so the choices are endless.

For sellers, it’s a combination of emphasizing how important it is to market your home at a competitive price and at the same time, marketing it for all it’s worth. Inventory being as large as it is currently, your home needs to stand out above the rest and it must be priced to sell. We’re no longer lingering in a market where it’s valuable to “test the market” by putting your home on the MLS for more than it’s worth. How do you do that, and still not lose the shirt off your back and that new flat screen you bought a couple of months ago? That’s something your friendly REALTOR can help you with.