Here is what I think….there are such great prices out in the market right now for both commercial and residential properties, that I believe the market will continue towards normality. Interest rates still threaten to rise, but as of today, my on-line mortgage information says that rates are still hovering around 5%. How much further down will prices go…no one knows. The talking heads are suggesting that the downward trend is about over. When will market values start moving up?….no one knows. Talking heads are saying they will….but probably not much for the foreseeable future year by year. At least not like it was for 3-5 years. While this might be frustrating for some of us who bought at the peak, here’s the good news…it offers stability!
The most important thing for you to know is that it’s a great time to buy and Sellers, price your homes correctly. It is a strong buyers market still….in most of our Puget Sound areas, although there are some exceptions in either area/neighborhood or price ranges.