Is it a buyers market?

From the perspective of a Home Inspector, it does not feel like a buyers market. Business is slower than last year, but I would expect houses with less deficiencies being sold. This just is not the case. You would think that that sellers would get their houses in better shape to sell. Quite frankly, I am seeing houses with more problems being sold this year than last. Seepage and poor roofs are on the rise. You would think that if more houses are on the market the buyers would pick the houses that look better. What I am seeing is that sellers that have houses with older roofs and minor seepage problems are discounting their price and still getting them sold. Well maintained houses are selling slower but their price is still appreciating.

You can check out what is happening in the Naperville Area market by going to www.pattisdreamhomes.com. Inventories are rising while interest rates and historically low. The job market in the area is still good. This is really a good time to go from renting to owning. When you consider the tax advantages to owning over renting, I cannot figure out why the average renter would not make the transition to ownership.

If you have to move it is important to get noticed and sold quickly. I would recommend a home inspection before you even list the property. Also, using a professional Realtor will improve your chances of selling faster in this competitive market. I am partial to Patti Schiavone for all my Real Estate needs. Property sales with a professional Realtor receive 15% higher sales price than FSBO.

Although sales activity has slowed a little bit, I just do not see a real estate adjustment in this area. Buyers can get a little better of a buy right now but they cannot get well maintained housing for substantially less than market prices.