Del Norte County Market Watch & Buyers and Sellers Information

The Del Norte County real estate market is picking up speed, but in certain segments of the market. This information can be very helpful to you if you are planning on buying or selling real estate in Del Norte County within the next few months.

Del Norte County's highest priced home currently pending close of escrow is $299,000 out of 10 pendings, with the median pending price at $205,000. The highest priced contingency sale is $385,00 out of 14 homes, with the median price of $224,000 (I took out low of $9,000 and high of $1,800,000).

The under $300,000 segment of the market is what is moving in Del Norte County at present and prices are still continuing to come down.

Bankers at the World Economic Forum have this to say about the U.S. housing market in the coming year:

"It will be awhile before you see a return of normalcy in banking and markets. Troubles in the US housing market are likely to worsen this year, with interest rate cuts and a hefty fiscal stimulus package unlikely to offset downside pressures."

Merrill Lynch's chief executive, John Thain.

If you need to sell your home and you are sitting on the fence waiting for prices to come back up to 2005 prices before you list, get off the fence. Unless you can wait at least a year or more according to most economists and markets experts, waiting even another month or two could lose you money. If your home is under $300,000 and properly priced, indicators show you have a good chance of selling your home in a timely manner.

If you are a buyer waiting for the bottom to hit, now's the time to buy with seller's who are willing to negotiate and interest rates that are very good. Lending is tightening up, for an in-depth explanation of why, check out Matt Heaton's post on the subject. If this trend continues, then the buyer's who are qualified today, may not be tomorrow. If you are riding the pine waiting to hit it out of the park, now may be your time to purchase a home.