Tallahassee Real Estate Blog

Wow!  Exhausted from an inability to turn around the housing market, many government and private sector experts are voicing the unpleasant conclusion that the only way to fix the housing crisis is to remove all support for prices, and let the market drop to the point where buyers find it irrestistable to re-enter the market.  This new thought is highlighted in a New York Times article by David Streitfeld: Housing Woes Bring New Cry: Let the Market Fall .  

While buyers may indeed find this irresistable, it would create another surge in underwater mortgages, foreclosures, and bankruptcies - bringing new woes to the economy in general.  No one is quite sure where government officials will come down on this issues.

For Tallahassee home buyers and sellers, there are 2 things we can provide solid advice on:

1.  For Tallahassee home buyers, don't look for another buyer tax credit.  It is highly unlikely the government will spend more money on this tactic since it did not spark the market previously. 

2.  For Tallahassee home sellers, don't believe that you can "wait to see what happens next year".  There is virtually no chance prices will rise next year, or the year after, or the year after that either.  But there is a risk Tallahassee home prices may drop in the next year.  If you need to sell, do it now... or wait until 2015.  If you need more information, we'd be happy to provide a professional consultation on selling your home.

Terance