Has the market bottomed out yet? The good news for our area is the lower number of subprime and ARM loans that are hurting southern Florida. Other good news is the health of the Orlando job market of which we are considered a part of. On that note, the houses that are overpriced will have to come down if the seller really wants to sell, but savvy sellers - you know, the ones who are getting contracts on their properties - are there with buyers ready, willing, and able.

     Consider insurance reform should take some of the sting off, and tax reform part one will also help but the wild card is of course the interest rate. So far the Fed has left the overnight rate alone but rates have been creeping up over the last 5 months. This trend is expected to continue through the year. With that in mind, YES, it's time to buy. Especially if the purchase is for a long term.

     It's not a mystery that the houses that get the showings are the ones that are realistically priced for the current market. Unless you have that rare property that is in the perfect location that will command any price you need to be priced smart. I read a good article in Broker Agent News today that highlights this very position. Buyers are out there and houses are selling! The median price is still slipping but hasn't gone into free fall, and interest rates have climbed but are still under 7%. What has changed is the number of sales are off 40% or so month over month and listings are still hovering just under 7000 units. What this means is if no other listings are added to the MLS it would take about 18 months to sell the existing inventory. If you want to be one of the listings that sells you MUST not only have the nicest curb appeal and inside presentation but be priced to sell as well.