Wednesday, February 13, 2008

Peoria Realtors release 2007 stats

Today at a Press Conference at the Peoria Area Association of Realtors office on Willow Knolls, Association President Becky Peterson released and explained all the 2007 year end data for Home Sales in Peoria.

Since I am not really a "numbers" person, I will cheat and link to a press report.

In a nutshell, the real estate market for the Peoria area is down only 5%. This is amazing considering that the suburbs of Chicago are seeing double digit decreases and the folks on the Coasts are contemplating suicide.

Becky did a great job presenting the information and addressing Jonathon Ahl's probing questions, but I had one nagging worry about the whole affair. Sellers should not derive a false sense of security from her calming words and ignore the fact that we still have significant compromised consumer confidence. This would not be a good time to flip your middle finger at a lower offer.. tempting as it may be.

Although Peoria homeowners fortunately seem to be immune from the low lows, we are still in a down market, and it is now more important than ever that your home be 1) priced competitively from the onset 2) in good repair and 3) staged and ready for showings.

Homes will sell, but the competition is definitely stiffer. Choose a great Realtor that has a proven track record, a wealth of experience, and then LISTEN to her!

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