Doom and Despair or Dare and Delight??

1.How's the market? 2.Is it as bad here as I read in the papers and online that it is elsewhere? 3.Am I going to be able to sell? 4.Can I get a loan?

I've been asked these questions over and over the past several weeks. So here's a shot at the answers:

1. It's a spring market. Sellers who did not have to put their property on the market during the winter are, like always, doing it now. Buyers who did not have to move during the winter are looking now. Pretty typical!

Perhaps the higher priced homes are sitting longer in comparison to the moderately priced ones. We still need "affordable" housing. Houses in the desirable "Tree Streets Historic District" are selling and we need more to market.

2. Based on what I'm reading and what I'm experiencing, the Tri-Cities area of east Tennessee is still in better shape than many other areas of the country.

3. Houses in good locations, prepared and staged, and priced according to what the market indicates, will always sell. Sellers may have to wait a bit longer but must remember the three factors mentioned in the previous sentence.

4. How much do you have to put down? How's your credit rating? How long have you been on the current job? Anyone else involved in financing the property? No longer are lenders offering no money down loans to "anyone who can fog a mirror!" This is good for everyone!! Buyers who have money for a down payment and closing costs and who qualify in the other ways can still get loans.

So, it's not doom and despair in our market! If your house is prepared to sell or if you are prepared to buy, then dare to do so. You'll probably be delighted that you did.