While it’s a great time to be a buyer in the real estate market, sellers are having a more difficult time. With prices coming down and more homes available on the market, buyers are in the driver’s seat in Anacortes.

But local real estate leaders don’t expect this slump to last. Many say Anacortes is bottoming out now on pricing after a roughly five-year housing boom, and they are expecting the market to turn in the next year. And leaders say Anacortes is in a much better place than many other areas.

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House values and selling price will keep dropping to about half of todays values and the realtors are the ones who will be losing their 7% commission which is too high and buyers are tired of paying. We got too many realtors and they are the ones driving the market. A correction is here and should stay.

Its nice to see recognition in the press that the real estate market is bottoming now or already has bottomed out in Skagit County.

According to the Northwest Multiple Listing Service (NWMLS) monthly recap for July 2008, residential home prices in Skagit County rose 3.92% (July 2007 through July 2008).  There were fewer sales this year, but prices were doing well.

Since President Bush signed the Housing Bill on July 30th, I’ve seen a remarkable rebound in market activity.  It feels like Summer in the real estate industry again!!  Activity is up. Sales are up.  My sales are way up!

I believe that August-September 2008 will be recognized as the bottom of the market.  As the Housing Bill’s $300 Billion starts getting released to homeowners at risk of foreclosure, the foreclosures and short sales will taper off and the market stability will be back.

I’ve posted more about this on my blog.  If you’re curious, check it out by clicking here.

The Reuters News Agency posted a video on this subject as well that I’ve re-posted here.

Skagit County is a spectacular place to live.  The local economy is good.  The only thing missing from the housing market today is consumer confidence and that is rebounding as well.

Didn’t we see the same press cheerleading a few months ago when prices were 10% higher than they are now?

Anyone who thinks that this housing market is near bottom is nuts.  ALL indicators point toward weakness for at least the next 18 months and some even predict longer.

OR...you could price your house REASONABLY...there’s a concept.

Call me selfish if you must, but I’m looking to buy a house in a year or so, so I’m excited.