For this being the last scheduled year for the debt-tax exemption, the distressed listings are sure dripping out slowly around here.
Here are the number of January short-sale and REO listings in NSDCC:
|Year||Short-sales||REOs||Percent of all new listings|
The 4% mark should be the point where we can say that this is a retail, non-distressed environment – what we used to call a seller’s market.
It means that sellers can probably expect 1% to 5% more than the last nearby comparable sale, and maybe more if everything goes right (better location, upgraded look, lack of other choices, and experienced listing agent).
Respect one thing – the buyers have the money.