I was out showing houses today (actually, my partner Cathy Farricker was doing the showing while I just tagged along) and I was impressed by what we saw. More important, so were our clients. We saw a number of houses that had started out at $3 million or so and are now down below $2.5. That’s pretty good, especially the one that sold for $3.2 at the height of market, had $600,000 in renovations performed as is now at that magic 2 1/2 million figure. (I’d give its address but my clients really liked it and i don’t need the competition).
There’s probably still more room for price reductions but it’s been heartening these past couple of weeks to have a pretty good invemtory of reasonably-priced houses to show clients. Buyers want value and if I can show them that then everyone’s happy. I’m cautiously optimistic that we’re going to have a good spring market.