Todays Market - Buying and Selling a house

I recently posted a new blog post http://www.wenatcheehomeswithperrin.com/blog. I discuss a little about the local Wenatchee Real Estate Market. Though trends are national and markets are local what i find going on with buying and selling houses in Wenatchee, Cashmere, East Wenatchee and other local areas is probably true around the nation today. Basically:

Inventory of houses is growing almost exponential

Sales are mostly in affordable zones. In Wenatchee about 60% of sales this year are between $150K and $250K

FHA is the loan of choice (though I have had some luck with a couple USDA programs too). Buyers want closing costs paid.

Sellers have to be the best they can be in their price range...not number two or number three... if you can't be then you need to either work on it, adjust the price so you do look good or take it off the market. Consider staging get some help with yard care, etc.

Negotiation is the rule of the day. I suggest ,if it were possible, to have a house that is guaranteed to be 100% accurate in price and then list it for $5K less... buyers will still try to work you down. It's the market...

With lots to choose from sellers need to be aware the old saying "your first offer may be your best offer" is probably true.

Buying or selling a house is never easy. There is stress worry about pricing and all the myriad of details. In today market it is even worse. In a market like ours with lots of inventory and where sellers outnumber short sale sellers about three or four to one... short sales hardly have a chance... and that is something banks should keep in mind... a short sale today with a $20K hit is a lot better than a foreclosure six months from now with the same hit, more costs of carry, lost opportunity cost, maintenance etc.

So if you are buying or selling go on step out and do it. But if you just "think" you might like to you may want to reconsider. Either way get a good agent and listen to them!

Perrin Cornelll , Broker, ABR

Century 21 Exclusively

Wenatchee, WA

www.wenatcheehomeswithperrin.com

perrin.cornell@gmail.com