SDP Partners LLC

Here is a summary of the national housing market in 2007.  Housing prices fell nearly 4 percent in ‘07 / nwi.com

Real Estate is highly local.  National trends are simply averages of the whole nation. Each state has its own board of realtors, and each state is different.

Every month, the Virginia Association of Realtors releases a report about the state of the housing marketing and housing prices in Virginia, and then on a monthly basis, the Richmond area has it’s report of their housing prices.  Check the category Virginia Market to read recent reports.

Here is a recent update on the "Housing Market" in Richmond.  The Richmond Times Dispatch January 25, 2008

Highlights:

The housing market in central Virginia is not likely to improve until the end of this year, housing experts say.

House sales in Virginia and the Richmond area fell last year — 15 percent for the state and 12 percent for the region — much like they did nationally, according to figures released yesterday by the Realtors’ association.

The median price of a single-family home fell to $217,800 in 2007, down 1.8 percent from 2006. The median is the midpoint, with half the homes selling for more and half for less.

Houses statewide stayed on the market an average of 88 days, up from 70 days in 2006. In the Richmond area, it took an average 58 days to sell a home, up from 46 days in 2006.

Source: Housing outlook unchanged - Richmond, Virginia, Business News and Financial Information - inRich.com

The Washington Post reported that the median price for a house in the United States has declined 4.5%.  Read it at ‘No Real Positive News’ Seen As Home Prices Continue to Fall - washingtonpost.com. 

We talk with sellers on a regular basis that want to sell their house fast. 

However, a home sellers expectation is sometimes the full price at last year’s market value.

Simply put, that’s not economically feasible for us. 

How do we put a price on a house?  It’s simple.  We deal with people who know what they want.  If that price is doable for us, its a fair price. 

A house is worth what two people agree its worth when you have to sell your house fast.

If we can’t come to an agreement, but you still want to sell your house without an agent, visit our sister website – FISBO TIPS , and you’ll notice 3 downloadable ebooks for sale. I also offer a “9 Tips to sell your house FSBO” course that you can sign up for if you wish.