Now that we are in the digital age and the majority of folks get their news online, the press has a bigger impact than ever on our lives, decisions, and opinions. We have had consistent interest rates, no sudden upheavals in the economy, and no blatant reason for the housing market to cool this year. Don’t get me wrong, I’m glad it has slowed down some. I feel that buyers deserve a fair shake and should be able to negotiate price and terms of their next home purchase. But the market is not that bad for sellers either! Both sides should be prepared to negotiate a bit, know their limits, and not take anything too personally.

It seems to have slowed down a little too much, too soon. I hear more often from buyers that they are “waiting” because of something they read online, or saw on T.V. So now the press is just starting to come around and tell everyone it’s “O.K.”. The most difficult thing about it, though, is that news is usually based on national statistics, and real estate is a very “local” business. What is happening in Michigan, is not necessarily what is happening in Florida, or New Jersey, or here in Portland. It’s imperative to find a good local agent, read your local papers (most publish local home sales statistics once a week), and make your short and long term decisions based on what you find locally.

Good luck (although you don’t need luck with the right agent )!! Oh, and by the way, please visit the “Snow Day” link on the left to create snowflakes and raise money for the Salvation Army. It doesn’t cost a thing!!

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Poll: Worst of housing slowdown over

But survey of economists shows average home price will fall in 2007
Reuters

Updated: 5:27 a.m. PT Nov 21, 2006

NEW YORK - The worst of the United States’ housing market slowdown is over, economists forecast by nearly 2-to-1 in a Wall Street Journal online economic survey, the paper reported on its Web site on Tuesday.

But the economists still predict that the average selling price of a house will fall somewhat next year, it said.

The 49 economists expect home prices, measured by the government’s Office of Federal Housing Enterprise Oversight index to fall by 0.5 percent next year, the WSJ reported on its Web site. That contrasted with a 13.4 percent increase in 2005.

After several years of double-digit increases, house prices stopped climbing this year. Prices still have some way to fall before they stabilize but there are signs that the most drastic part of the downturn, marked by a sharp pullback in demand and new construction, have run their course, the paper said.

Copyright 2006 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters.

URL: http://www.msnbc.msn.com/id/15829153/

Opinions expressed in this article are the opinions of author, and not to necessarily the opinions of Meadows Group Inc.
All rights reserved on all original content, non-original content is given credit | Michelle Berry | 2009