Here are my recommendations for your real estate future

1. If you can afford to keep your real estate, do. For the time being, the properties on the market should only be the "must sells".
2. If you do put a property on the market, over-pricing hurts you and others in the market place. You are glutting the market with a property you are not ready to sell - or else you would have priced it accordingly. (If a prospective client wants to "put a property out there to see what happens" I will not list it - This is interpreted by real estate professionals as meaning, "I want to put it on the market for too high a price in case there is a fool out there". Sorry folks, the fools buying expensive real estate have bought it - they are now having trouble making the payments!
3. If you do put your property on the market, make it competitive in appearance and functionality to the best of your ability - clean, paint and make the yard look immaculate, but do not renovate the kitchen - price it accordingly for an outdated kitchen - but make that kitchen spotless! Have your inspections, and have everything in good working order.
4. Lower the price every 6 weeks or more - as the pricing in the nation falls, and the pricing in Tallahassee falls, then so should your pricing.
5. If you are buying property, then treat the seller's fairly. Do not give them hope that you are interested in a property when you are not. Do not make insulting offers. If you are looking for investment property, remember that the affordability index is still showing a gap increasing between pricing and what a whole segment of our community can afford. I would recommend looking at residential properties under $250,000, and development property that can be developed for work force housing. Now and during the coming year are when buyers are in the drivers seat - but do your research, and rely on an experienced Realtor. And again, remember that there are still folks out there who were not able to buy. This is a market that may become empowered as our leaders continue to recognize this and pave the way for affordable housing and work force housing. If we can work on helping hard working folks who have not been able to buy a home we can begin to take some of the lower priced inventory off the market - it is a win-win idea.

Next: a look forward...