This article from Forbes Online is encouraging. Toll Brothers, if you were unaware, is one of the largest homebuilders across the U.S. Their CEO recently stated that he believes the national housing market is going to see a “soft landing” and not the bursting bubble of property deflation. Nine months after beginning the mantra that we are not seeing overall price deflation, we are seeing a decrease in the rate of appreciation, even the CEO of Toll Brothers now agrees with me!
If that’s not enough chest thumping for you, also consider the National Association of Realtors recent press release about unrealistic expectations in the housing market. Here’s the press release.
After the Jump, Selling in Today’s Market or How I Learned to Cope with Reality
Well, recently, this blog commented on a Detroit Free Press article that highlighted how to sell that home quickly. The good news for Michigan homeowners: while our average property appreciate rate was 3.76% for 2005, 50th in the nation, that also makes us one of the more affordable states for folks to purchase property. And think about that 3.76% in appreciation. On a $300,000 property, that amounts to $11,280. Sure, not the rates of appreciation that we’ve seen in our state’s recent past, but better than -3.76%.
It bears repeating from the Free Press Article, “You can price a house at what the market wants and it can move in 30 days, or you can price it at what the seller wants and it will sit for nine months.”