Oak Mountain Lake Topics: Thank you John!

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	Name:	John C -
	Subject:	Thank you John!
	Date:	12/29/2008 12:26:51 PM

thank you for the kind words.

I agree that looking at average sales price is tricky in our market, since it's so small, but doing so over 11 months as you did is more reliable.

Yes, I too find it interesting that average sales prices have not come down much, and that the majority of the lack of sales volume is due to # of homes sold. I would have guessed a mix.

That is why I am advising sellers to price their homes / lots right AT what they would take as opposed to leaving a cushion to negotiate from. Always better to price ahead of the market, whether it's going up or down. So far it has worked well in 08. 09 may be a different story, but I doubt it.

same advice to buyers. get ahead of the trends. If you wait until everyone and their brother says it's OK to buy real estate again, it will be too late, we'll be at the peak of another seller's bubble. See Warren Buffet's great quote on fear & greed.