Glenn Roberts 206-524-3665   |    Lake and Company Real Estate   |    Marjie Cunningham 206-380-0718

Simply put, the market was down and is down. You knew that, but where do we go from here? This being my first newsletter, Im running a little behind. What was to arrive mid January shows up at the end of February. In April, I'll have first quarter stats for those who care.

After the stats came out things were looking grim, but the good news is a combination of timeless real estate factors as well as recent political developments. The fall of 2008 had some stunning economic events that left everyone in shock, but there are people who do have to move because of job changes and other personal circumstances, and they will sell. It is difficult for agents, appraisers, and owners to get a grip on home values when there are few, if any transactions for a prolonged period, but eventually all of these people start to discover again a price point that will make buyers get off the fence.

Buyers can face a similar predicament in that they really don't want to be renters, and they are here for the long term. They must select from existing inventory.

Traffic through open houses has been high in recent weeks. Agents and sellers and getting their heads around realistic prices that make property move, and buyers are seeing low interest rates, amazing tax credits, and prices lower than they could have imagined 18 months ago. Some people sold at the peak and they are probably pretty excited about that. Some others will buy at the bottom, but we won't know gets those deals until the bottom is but a distant memory.

Here's the NWMLS Press Release

Here's the 41 page pdf full report.

Marjie Cunningham and Glenn Roberts have been licensed Realtors since 1985. We rely on your referrals to sustain our business. Thank you for your continued support.