JULY HOME SALES LIKELY UP

While I haven't seen any statistics, it sure feels like there is alot of activity in the resale home market this month. July will be one of my biggest months for sales and for new listings. The first time homebuyers seem to have disappeared from the market and the buyers are looking in the $250,000 plus range. I even closed a million dollar listing this month albeit just below that mark after negotiations et al. Buyers are still going for the steal, but Sellers are definitely pushing back when they feel like their value is good. As prices begin to nudge up the appraisals are issues because the appraisers have to use recent comparable sales, so if those are low it is difficult to get a higher sale price. One wonders if they aren't going to keep values at the low end while they figure out how to reflect "willing buyer and willing sellers" at higher prices. No one wins when they keep prices unfairly low.