Where is the Real Estate Market Heading?

That's the top question for most homeowners. It's a very legitimate question and the answer may not be what you want to hear. The Economist has just published a story titled "The Bust's Second Act" that you may want to read.

My advice is if you don't have to sale, don't! If you do, choose your Realtor, and listing price very carefully. It may be the difference in a 90 day sale or languishing on the market thru the summer and into next year.

The silver lining is that here in Middle Tennessee, inventories are starting to become what we considered balanced. Balanced being about a 6 month inventory of homes, but that is not in all sectors of the market. For instance when the price exceeds the $250,000 mark, months of inventory starts to spike concurrent with the price.

Hope this helps!

Dale