It seems to me that buyers and sellers are getting more accepting of housing values this year. It feels like our local market is becoming more balanced than it has been in a long time.
Sellers are more accepting of the current values of their homes and and are less likely to want to price their homes over market value. They are getting rid of clutter and making cosmetic changes to de-personalize their home and are more willing to do repairs than they were a year ago.
More buyers are looking to purchase homes and we are seeing the investors come back into the market. Buyers are more realistic about the offers they are making when they want to purchase a property. They have fewer homes to choose from because the supply of homes on the market is lower than it has been in a long time. Interest rates are at historic lows and Buyers are taking advantage of these rates and are no longer waiting for values to “hit the bottom”.
Buyers are often finding themselves in multiple offer situtations and are “stepping up to the plate” to make a good offer on a home they want to buy.
All of these things are signs of a more balanced real estate market for 2012 and that is a good thing.