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Prices Going Up?

There is a lot of chatter out there about rising prices and interest rates.  But, when I look at our MLS this morning I see 30 price reductions.  It has been a rather flat year around the lakefronts, and although things are picking up, we are still not at the point that the higher prices are going to fly with buyers.  Just like sellers were a few years back, when the market first dropped off, buyers are at that point now.  At the first market drop sellers refused to lower their prices for about a year or two.  Finally, with all the foreclosed properties and economy woes clearly in our face, sellers got a clue and starting getting their prices right.  Then we enter 2013 with a very positive outlook on the market.  People that had been waiting to sell got in the game and everyone inflated their prices because things were going up.  Now it is almost the buyer's turn to face reality of rising prices - but not quite yet.  Things are improving but buyer's still think their are deals to be had out there.  They are not going to pay inflated prices on a home when there is still quite a bit of inventory to choose from.  Sometimes I think the buyers and sellers are at an impasse.  This area has not seen the upswing just yet.  It is trickling up slowly as we predicted it would four year's ago.  Reality hit this summer, and we now know that we are not yet in a seller's market.

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Kathleen Adams
Coldwell Banker Lakes Realty

8520 100th Avenue
Canadian Lakes, MI 49346
Phone: 231-250-3197
Office: 231-972-8300
Email: kadamscblakes@gmail.com
Website:  http://www.canadianlakeshomes.com
Blog:  http://www.canadianlakeshomesblog.com
 

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