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Tuesday, July 15, 2008

"Change we must". (Yoda)

“I cannot say whether things will get better if we change; what I can say is that they must change if they are to get better.” (Georg Lichtenberg). Those words from the Jack’s Winning Words blog certainly apply to the real estate world. We have seen some small changes already – more people out looking and a slight up-tick in the number of houses selling.

We are still experiencing a heavier than normal foreclosure rate, but the market seems to be absorbing them fairly well.

Sellers have come to grips with what has happened to prices and are now more realistic when putting houses on the market.

Buyers are aware that this great housing market, accompanied by relatively low mortgage rates, can’t last forever; so they are getting out and finding bargains right now.

We are still going through wrenching changes in our local auto industry. Perhaps we’ve become a bit punch-drunk from taking so many layoffs and plant closings and other bad news; but, it seems like the next story of bad news out of the industry is being announced with a little less stridency than would have been the case a year ago. It’s become – another day, another release of bad news from the little three (they’re actually being called the local three in the local press, now; although I can’t imagine why including Daimler-Benz as a local company makes sense to anyone).

Change is inevitable, so let’s hope it’s for the better and soon!

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