| In many ways 2006 was the non-year for real | | | | non-seller's markets. Homes that are priced right |
| estate. The National Association of Realtors(R) | | | | and are in good condition which offer features and |
| reported that sales will be down in 2006 about 9 | | | | finishes that buyers demand, will sell close to list |
| percent from 2005, a record setting year.Many | | | | price in moderate market times. Flat or negative |
| markets waited for spring market which was | | | | appreciation.Florida, Arizona, California and |
| disappointing. Markets then believed buyers would | | | | Washington D.C., will have unstable markets. Until |
| re-group in summer,and buyers were a no-show. | | | | sellers get a reality-oriented wake-up call markets |
| Fall and last market hopes were dashed when fall | | | | in these locales will sputter and hiccup.Ten states |
| came and went, with plenty of traffic at open | | | | posted solid sales gains in the second quarter of |
| houses, but few contracts.Pent-up demand from | | | | 2006 versus 2005. Reported the National |
| a lackluster 2006 should drive buyers back to | | | | Association of Realtors(R). The gains ranged from |
| market. But, these savvy buyers will be on the | | | | an impressive 48% in Alaska to a low of 5.3 |
| lookout for realistic prices and seller give-backs. | | | | percent in Georgia. The other eight states included |
| Most buyers will tell you point-blank that their | | | | Arkansas, Texas, North and South Carolina, |
| income gains in the last five years have not | | | | Vermont, Tennessee, New Mexico, and |
| matched rises in home home prices. Real estate | | | | Wyoming.Residential real estate will return to being |
| markets won't bounce back until home sellers | | | | viewed as shelter and housing and trend away |
| realize as prices go up, the pool of buyers shrinks | | | | from being viewed as a speculative |
| proportionately. Buyers with a home to sell will | | | | investment.What about 2008? Stable, pre-frenzy |
| include a home-sale contingency, so sellers should | | | | market with appreciation at 1% annually.Mark |
| be prepared to accept one.Inventory levels will | | | | Nash, is a residential real estate author, broker, |
| remain in the six to seven moth range. Listing | | | | columnist and writer based in Chicago. His fourth |
| leftover's from 2006, will roll into 2007. The | | | | book 1001 Tips for Buying and Selling a Home |
| leftovers are either un-realistic sellers whose | | | | received eighteen five star reviews on His latest |
| pricing is from the "froth years" or thier homes | | | | book; Real Estate A-Z for Buying & Selling a |
| haven't been updated to keep up with the stiff | | | | Home will be published in December 2006. Mark |
| competition and time-starved buyers.Mortgage | | | | publishes a free monthly ezine for real estate |
| rates will remain in the 5.5% to 7% range. | | | | professionals. Agent to Agent features ten articles |
| Historically low, but low rates by themselves | | | | that offer free reprints for agents, home buyers |
| haven't motivated buyers to write real estate | | | | and sellers through . Real estate news and book |
| contracts in 2006.Foreclosures will rise. Risky loans | | | | reviews, Celebrity Homestyles, Home selling and |
| such as Interest-Only, Option ARM's and 100% | | | | buying tips and advice, Joke-of-the-Month, Help |
| financing will tap out buyers whose used these | | | | this Agent, and agent marketing tips. Over 5000 |
| "appreciation-oriented" mortgages.Prices will drop | | | | subscribers in the U.S. & Canada. |
| 4-10% before leveling off in the majority of | | | | |