A standoff — It’s like this — sellers are still wanting the glory days of the last few years, 15 – 20% price increases per year. Buyers on the otherhand are continually reading about the real estate “bubble bursting” and they think they will just wait it out, untill the prices come down. Hmmm….throw into the equation interest rates are still pretty low. I was just taking with a mortgage broker this morning who told me interest rates are below 6% today. Maybe it is a good time to buy.
What are your thoughts? Anybody want to weigh in on the subject.