We're in the eye of the hurricane

We are in a down real estate market. I said it! Things have shifted and it's taking a little bit longer for houses to sell. The good thing is that they are still selling!

The law of equilibrium will bring us back to an up market sooner or later. Just imagine a golf swing. The club goes back slow but then does a great BIG swing. When the market will shift is up in the air but until then we need to roll with the punches of this market.

A lot of things have led us to this point. Instead of pointing fingers as to what brought us here, buyers and sellers (as well as agents!) need to realize that the old rules don't apply anymore. Things have changed and they are going to remain that way for a while. A recent article I read stated that it could be another decade before we are back to the high point we were at 2+ years ago. Knowing that the real estate market is a cyclical thing, I know that that is not far from the truth.

People often ask me how the market is doing. Just a few weeks ago I posted a blog about now being a great time to buy- and it is, for some. The market is the market. Sometimes it is a right time to buy, sometimes it's right to hold, and sometimes to sell. It really depends on each person's situation. I can't give a blanket answer. I am a real estate consultant that will talk you through your situation and figure out what is best for you. I am here to help you achieve your goals. I'm not helping anyone by telling them it is a good time to buy or sell if the numbers just don't make sense for them.

At the Egerer & Weidauer Team, we interpret the market trends to get things done. The techniques of 2 years ago will not work to sell your house today that is why our strategies are based on what is happening in the market, in your neighborhood, right now!

I'm sure you're well aware of the Fannie/Freddie government take over this past week. This is a good AND bad thing but hopefully more good will come out of it. Here is how I see things unfolding (or at least HOPE it will go a little something like this!) Consumer confidence should go up because of the known security in the institutions being backed by the government. The availability of money will be tightened and guidelines may get stricter but this will only be beneficial because it will stop loans from going to those who can't handle them thus bringing the foreclosure rate down. As the foreclosures go down, consumer confidence will again rise and hopefully the market will be on more stable ground and Fannie and Freddie will be able to hold their own.

Like I said before, we are in the eye of the hurricane right now, and it's going to take a while to get back to a place of normalcy. News of financial institutions going under, or sales prices dropping in your area is pretty scary stuff, but we are all going to get through this. We did in our last market correction during the 2000 tech wreck, and before in the early '90's and so on. What's going to help bring us out of this? Consumer education is priority number one! The Egerer & Weidauer Team is here to educate our buyers and sellers and help them figure out what is best for them, regardless of the current state of the market.

This too shall pass, and we'll help you through it!

Jeremy Egerer 360.990.4083 www.jeremyandnicolesellhomes.com Nicole Weidauer 206.661.7256