Rizzotti JH Real Estate Blog

A continuation of market conditions which ocurred in the 4th quarter of 2008 will likely ocur. Opportunities for buyers will continue! Sellers will have to acknowledge current, not past market conditions.  

Ken

Based on my observation of the past week, it looks like there is a higher level of activity in pending sales and closed sales. The historically low interest rates are certaintly helping!

Expect the market "re-pricing" to continue. We are slowly moving in the direction of a more normal market.

Ken

Only 1 sale in Jackson since 1/1/09, and this was a fractional interest property!

However, i noticed last nite, some pending sales, which is encouraging. Expect to see re-pricing in all market segments! Keep an eye on the most recent sales to guide in pricing listings. Avoid unrealistic pricing, as it will be a waste of time. The recent sales I have observed are for the most part, selling below prices noted in summer of 2008! As the market adjusts, so must the participants, if you want to play the game.

Ken