I can’t quite figure out why, when we have waited so long for signs of health in the real estate industry – and we finally see signs of life, at least for the present – that the first thing we think of is raising prices.
We all know that we still have millions of foreclosures hanging over our heads and that we have been given a longer window to get our inventory sold – then why are we looking to raise prices when we have finally found pricing levels that are attracting buyers?
I realize that in some markets (mine, too) that there is little inventory and yet even in those markets there is inventory sitting because it’s overpriced for current conditions. I also realize that we are seeing the return of multiple offers and bid-ups by some buyers – but that’s the buyer running up the price and for them that’s a significant difference.
My money is on pricing that will attract today’s buyer – we are not out of this yet. Take advantage of this ‘window’, who knows what’s around the bend for us?