In today’s real estate market we are seeing changes that can be expected in any recession, however, they some of them rock it to its core. Take for example the overused quote in the field of “location, location, location.” Yes, of course people still crave the homes closest to work, good schools, public transportation and all those other things we have been programmed to look for.
Yet, with purse strings tightening, location is losing its footing, so to say. Buyers are evaluating what they are willing to spend, banks are being reigned in on what they are able to loan, and together those mean that true options are those other than the high flatulent ones. Reality has set in, fear can be smelled in the air, and the future on many levels is unknown. What exactly does this mean for buyers and sellers, well depending on who you are and what you want to spend, and who you are and what you have to sell many different things. Bottomline in all of this, change is here, and the predictions are that it is here to stay for the long haul.
