The Market
With all the doom and gloom reported on the national real estate market it's amazing and encouraging to see the Puget Sound area bucking that trend. Many new developements starting construction and we're still seeing offers here and there on existing homes that are higher than asking price. However, there are many sellers that have reduced their asking prices as some homes are sitting on the market longer than a year or so ago. This may be due to some buyers wondering if the Puget Sound area may follow the rest of the nation and they think prices will drop further before getting into the market and purchasing. I believe real estate generally should be seen as a long term investment and the ups and downs of the market cycles as a natural aspect of investing. There are a lot of opportunities out there for both the buyers and sellers in this current market.