Dave Gibbs

Hi M,

Your very interesting consumer-side question caught my attention as did Kathleen Seide's accurate statistical response. The only thing that Kathleen's numbers left out is where the List Prices started out on the Haile Plantation homes that sold in her selected time frame. Many of the 20 properties that sold in the sampling period from 12/01/07 thru 03/25/08 and that were on the market an average of 145 days were listed at much higher prices to begin with and were reduced in price until they eventually sold.

The home values in the Gainesville Florida market continue to reset as do properties all over the USA. The Gainesville market is actually in better shape than many many other areas due to two things. The first is that valuation in the Gainesville market, while inflated, is not as rediculously inflated as many other metro areas. The second is that the Gainesville market is generally more healthy than most because of the University and Gainesville's ratings in other major categories along with a favorable inflation (cost of living) index. In short, Gainesville is a very nice place to live all things considered.

And finally the answer is "Yes" to the last part of your question. It would indeed be easier on the seller and buyer if a home is listed at an accurate value to begin with. Mostly easier on the seller. Natural forces have to play out as the market resets and accurate valuation points are reached. Sellers who have purchased within the last two years (i.e. purchase on the high side) are hurt most when the market turns.

It is a buyer's market all over the country. The most efficient approach is to work with an experienced real estate professional familiar with the local market and that advice applies to both a buyer and a seller but particularly a buyer if a person is in the market looking for good value......which is definitely out there.

David A. Gibbs, Broker Associate, ABR, E-PRO
RE/MAX Professionals, Inc.
Gainesville, Florida
Cell: 352.318.0811 Fax:888.520.6888 Office: 352.375.1002
http://www.Your-RealEstatePro.com

ABR Accredited Buyer Representative
E-PRO Certified Internet Real Estate Professional

I am never too busy for your North Central Florida real estate referral - Sun Apr 6 2008, 14:26