Minneapolis, MN: Market Update March 17th

Buying activity this week remained about the same as last week. It's almost hard to imagine why buyers are not taking advantage of this wonderful opportunity. Until I think about the Bear Stearns news and all the doom and gloom dire predictions we heard this week.

Many buyers are trying to time things, to make sure they get the best price. Bad economic news creates a perception that we are in a free fall. While that may be true in some real estate markets it's not in others. Many of the areas I work in are RISING. Average sale price in many neighborhoods is rising, really, I'm not crazy, check it out on my profile.

Trying to time things to get the best price is only smart for investors who don't really care to much about the home itself.

Buyers of a "home" (not just a "house"), are well served to focus on getting the best homepossible, rather than the best pricepossible. Not that price isn't vitally important, of course it is. But buyers always gravitate to the highest "quality" they find after reviewing what's available.

Find the nice home in that area you didn't think you could afford, or find that home that has more than features and amenities than you ever thought you'd get. Then buy it! Good Luck!