If you mean have prices gone as low as they can go?....probably...but they can still go down more. Forclosures are still killing property values. A 4 bedroom 2 bath on my street just went for 79k.
If you are asking if the mortgage crisis has hit bottom...probably another two years to go. A lot of those aprls or interest only loans have yet to reset. There were also a lot of McMansions biult in town over the last five years...which means jumbos mortgages that are about to go up....
Sometimes it's the house that sells itself in spite of the Realtor or the Real Estate Company. I've only purchased 2 homes in my life; the first home we bought in spite of the agent - she was incompetent and luckily the Real Estate Co. owner stepped in to finish the deal.
The second home I bought - the Realtor was fabulous! - she was nice, gracious, fair, sharp, knowledgeable, experienced, flexible, and did everything she could for both parties to bring the sale to a close. She still stays in touch after several years and she's a very nice person.
I've never sold a home but I would rely more on the Realtor than the RE Co.
Well here it is - the summer real estate market. Weather wise it seems like fall, real estate wise, the market continues to heat up.
REO (Bank Own) properties are being listed very aggressively creating multiple offers, which are driving the asking price over by thousands of dollars.
Short Sales continue to be a challenge. Banks are taking too long to respond. Ultimately this frustrates a buyer to the point where they walk away from the deal. This short sale then becomes REO and the bank usually gets much less than what they could have gotten if they accepted the short sale - go figure.
As the summer heats up, have faith it will, a HOT buyers market will continue.