Has the market slowed down?  You bet it has.  Since mid August (Back to School Season), buyers in all price ranges appear to have gone into hibernation.  I believe this is due to a combination of market pessimism, uncertainty concerning the extension and increase of the tax credit and the uproar over health care reform.

The inventory and interest rates in the Denver Metro area are at all time lows.  I was hoping the Fall would generate a huge increase in sales activity, but alas the market has come to a stand still.  Speaking with several other brokers, it appears turn key property values are starting to drop significantly.  The consensus on pricing is 5-10% below current market levels, and your home may sell.  This though causes additional marketability issues as most people do not have the additional 5-10% to sacrifice.

I personally have 4 turn key properties listed as of today.  My sellers have all lowered their prices over the past two months.  The showing activity has increased, but alas, no offers.  I thought we were at the market bottom, but we may be 6 months off.  What say you fellow bloggers???

Raichart Out…..