I just did a search in the local RMLS and found that there are 94 new listings for the eastside in the last three days. 39 listings have gone pending. I just have to say to all you sellers out there; unless you have a lot of equity and need to sell, maybe now is not the best time. Even as a new listing, you are out there amongst a sea of other listings and buyers are overwhelmed with choices. Be prepared to price drop accordingly for a timely sale.
Buyers, on the other hand, are in a great position right now. As long as your financing isn't sub-prime. The interest rate is still low, there is a ton of inventory and as fall fades into winter, prices will drop. This is especially good for investors buying rental properties. As non-qualifying buyers get pushed back into the rental market, rents will go up and vacancies will be filled.
So instead of selling, look at re-positioning your equity into a rental property. You'll thank me later!!
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