“How are current market conditions affecting your point of view?”

It has been some time since my last post and during that time the real
estate market has certainly been interesting.   The reality is that
currently we have a depleted inventory of homes on the market, despite
many people’s misconception that there are endless foreclosures out there.
 Plain and simple, for owner occupants and investors alike, there are more
buyers than there are desirable homes.  With these circumstances in our
real estate market multiple offer or highest and best situations have
become more common.  Having experienced this first hand from both sides, I
have realized that these market conditions are a double-edged sword.  From
a seller’s perspective, having multiple buyers interested increases your
odds for receiving the price you want.  While there are still exceptions
to this, if your house is presented well and is priced right you’re in a
good position.  Where on the other hand through the buyer’s eyes, this
situation can be frustrating.  In cases where buyers have lost a house
they really wanted this experience could be disheartening.  Despite the
positives and negatives for the parties involved the bigger picture this
presents is a positive thing for the housing market’s recovery.  Economics
101 states that when demand exceeds the supply prices increase.  This
means that home prices are rising as these market conditions continue,
impacting the values of future homes that will come to market.