So how bad is it?
Every day there is news about the real estate market. Maybe it's just me who thinks so, but so much of it is conflicting. There are the doomsayers who warn of an impending crash (what-this past one wasn't crash-y enough?). Then there are the optimists and tea-leaf readers, who say this or that points to the market getting better, is on the road to recovery, etc.
To be sure no one is singing O What a Wonderful Real Estate World. Most everyone, even the optimists, acknowledge it will be a slow and sometimes difficult recovery. The doomers, otoh, are crystal-balling 40% drops or more from CURRENT levels.
This community is somewhat in touch with the action in the trenches. So I thought I'd ask: what's it like out there? We have had our home in GA on the market for approaching 3 months. We had an offer that didn't work for technical reasons, although the price and other terms were agreed upon.
We have had two or three repeat lookers besides this and feedback is always top-notch (beautiful home, xlnt condition, shows very well, etc). Some (not all) say the price *may* be a touch high, others say it is competitive (these are the showing realtors who I call a day or two later) but I would think the presence of an offer (and one near-offer) indicates it isn't too far off the mark. Still, we are getting a bit anxious (I know, 3 months isn't that much in today's world), and although we have averaged a little over one showing a week, I am acutely aware that the end of summer is not that far away. I am told the market dries up faster than a prune in Arizona once school begins... true? We really want to be out of here by then for about the same reason, that our dtr can go to the new school when it starts. How does July/August typically look? Is there a certain amount of relo action or is June pretty much the caboose end of the train?