After reviewing reports from various indexes and news articles it is clear to Jack and me that in order to get a home sold the seller needs to price his home at a compelling price. This would be a price that compels the buyer to purchase the home because he feels that if he doesn't
someone else will at that price. (The National Association of Realtors posts its report of PendingSales each month and Economists predicted that pending sales would go down by 14%, but actually pending sales declined by 30%!)

Individual home prices are decreasing in almost every market and as we go forward home
values will continue to depreciate. The experts expect to see another 5 to 10% (worse
in some markets). Of course home values are affected by supply and demand and demand
was affected by the home buyers tax credit, but that has gone away and at best demand
has remained stable while supply continues to increase. And coupled with increased foreclosures nationally, home values will continue to loose value and are at their highest right
now. I wish we could be more optimistic. The other side of the coin is that buyers have a
great opportunity, if they realize it.

Buyers are confused about when to buy. Interest rates are at an all time low, but are predicted to rise by December after the investment markets in Europe and Asia settle. So faced with changes in the future that could bring higher interest rates, stricter guidelines for lenders, and more emphasis on credit scores, buyers should act now if they are ready.


To summarize the S & P Case Schiller report: "inventory data and foreclosure activity have notshown any signs of improvement" The Core Logic Index: "the second half of the year we expect price growth to soften and possibly decline" The RPX index: "lower demand and greater supply will lead to new lows in prices"

Again, what this means to a home owner currentlly selling his home is that right now is the best time to sell and waiting for a higher offer or keeping your home at a higher price is not going to attract a buyer. Your home is worth more now than it will be in the next 6 months.

You need to hire a Realtor who will educate you on the market and help you make the right
decisions. That is why Jack and I stay informed and follow what the experts are saying.
We hope you the consumer will remember to reward the Realtor who tells you what you
need to hear and know and not just what you want to hear so that you can make the right decisions for you and your family.