Words of wisdom from Minnesota Peg

This was sent in as a comment but I thought I’d give it more prominence:

Like you, Chris, I sell residential real estate for a living.  (Well; let’s say I try!)  Bad as it is to see homeowners who have seen a significant drop in the value of their home – it’s even worse to see those who purchased recently and may now face tough times because of it.

Still – almost everything has dropped.  Last time I checked, my stock portfolio is half of what it was 14 months ago – and the carnage seems to continue.  If I want to sell what I’ve got, it ain’t gonna be a 20% or 30% drop – try more like 50% – or worse in some cases.

We all  have to suck it up and acknowledge what it is today.  That is – if we wish to sell.  And – try to remember the silver lining…  for those who thought they may have been shut out of homeownership forever – the door is opening wide.  That is – if sellers will be realistic and let them.

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