With Sullivan County sales down about 15 to 20% over last year, there’s no doubt that the real estate market has slowed. (It hasn’t died, by any means — a 20% drop in sales brings us back to 2004 levels, which was considered a very healthy year here.)
People are looking, to be sure – my weekly gas bill can attest to that! But I’m picking up a hesitency right now to actually buy. Realtors are rife with opinions and speculation that all seem to lead to the "too highs" — interest rates, house prices and gas prices. Which may be true. But I’d like to ask you the question: If you’ve been thinking about buying a home (primary or second), what’s keeping you from doing it now? Please think about it and try to be specific. Are prices too high, or you just don’t see the value? Among you and your friends has real estate "cooled" from being a hot investment? Do you think prices will go down, or are you more generally hoarding your acorns to see what happens with the economy?
I don’t know what your answer is, but I’d love to hear it. Please add your comments! Thanks.