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Old 10-19-2005, 06:10 PM   #17
Paugus Bay Resident
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Properly priced properties are selling OK. IMHO, the problem is that a lot of people got greedy and set their selling prices high, hence the price reductions. It's difficult for a listing agent to do a market analysis and tell the seller his home isn't worth as much as he thinks. So, often they'll take the listing at the higher price. When the property doesn't sell, the owner blames the agent for the property not selling (couldn't be the price, could it ). The next agent gets the benefit of the owner softening up a bit and usually gets the owner to do a price reduction. Too many people are watching TV shows where people flip a property in 4 weeks and make 20%

Actually, our regional growth in terms of price has been somewhat moderate when compared to other parts of the country. Here's a great website on housing prices. Office of Federal Housing Enterprise Oversight

Year-to-date sales (per the Registry Review through September) are on track with 2004. One point to consider is that there is a lot more inventory (new construction) so, supply has increased. I believe we are in a neutral to slightly buyers market. Of course, as has been mentioned, we are in October, which typically signals a slower market period anyway. When I looked at MLS today, there were 23 new listings, 24 closed sales, 23 pending sales and 24 price reductions (Belknap and Carroll). Kind of neutral. Tomorrow, who knows

Last edited by Paugus Bay Resident; 10-19-2005 at 06:26 PM.
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