At this time across Cecil County we are seeing a continued decline in prices. Buyers continue to be beat up Sellers, knowing they can take advantage of the down market. Existing Residential properties are priced above new construction in many area's causing inventory to continue to sit. Sellers in denial face tough decisions in the months ahead if they truly want to sell. The Boom left many Sellers feeling they can still overprice not understanding that the market from Pricing, Lending & Appraisals has changed. Some Sellers continue to overprice and sit holding firm at ridiculous prices. Sellers don't understand that Buyers cannot pay above appraised value and Lenders are re-evaluating Appraisals at last minute causing some Settlements to fall apart. The sad part is many sellers can sell their beautiful homes now with that Tax Credit still available, but they won't reduce their price.
Company: RE/MAX Chesapeake
Phone: 410-961-8686
Email: doreensells at mris dot com
