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