Article in the Wall Street Journal Online

Hey Everyone, So I was perusing through the Internet and reading stories about real estate when this one in particular caught my attention. The headline read "Redfin: Less Than Half of All Home-Sale Attempts Successful in ‘09". That's less than a 50% success rate! No wonder sellers are so hesitant to list their home in this economy! "A survey of seven major housing markets found that less than half of all attempts to sell a home in 2009 had, as of last Wednesday, resulted in a sale." (http://blogs.wsj.com/developments/2010/08/16/redfin-less-than-half-of-all-home-sale-attempts-successful-in-09/). When buyers see all these properties sitting on the market for so long without selling, they definitely should see opportunities for great deals. Not that they should take advantage of these desperate sellers, but many sellers are settling for lower offers just to get rid of their houses so they can move on. The good news for these distraught sellers is that they will luckily make up for some of that loss in their next purchase! Interest rates are so low right now so not only will they get a low interest rate on their mortgage, but they will also get a good deal on their purchase of a home. It really does all even out in the end. Here is data from Cook County: County Name Listings Activated in 2009 # 2009 Listings Sold % 2009 Listings Sold # Still Active % Still Active Cook County, IL 134,710 44,789 33.3% 7,893 5.9% Here's the link to the entire article: http://blogs.wsj.com/developments/2010/08/16/redfin-less-than-half-of-all-home-sale-attempts-successful-in-09/ - Ashley