Crack in the Wall

For months now all I’m asked by buyers is, “when are the prices coming down?”

I can understand frustration.  With the tightening of credit all over the world and foreclosures in outlying markets the lack of change in the valley has brought things to a screeching halt.  But last week, I saw a crack in the wall.

It was a wall built by homeowners trying to protect their equity.  They have every right to build that wall.  But in the current economic mess, things have to change.  The only way for a homeowner to protect their equity right now, is to not sell.  Homeowners need to understand that to sell right now, is to loose equity, especially at the lower end.  Buyers need to start making offers.  The worst the homeowner can say is, “no”.  The real bargains are never advertised, they are the one we create ourselves.  The wall is cracked.  When the wall is down, it will signify the end of this “changing” market.  The good deals for buyers are not when the wall is down, but as it is coming down.  Now is the time of opportunity.