The New Rules of Real Estate - Wall Street Journal

The New Rules of Real Estate For a Cooling Housing Market by Ruth Simon From The Wall Street Journal Online The conventional wisdom that guided buyers and sellers: during the real-estate boom is being challenged. Pricing is becoming crucial and relocating is trickier as the number of homes for sale nears a 10-year high. As the spring selling season moves into high gear, the cooling housing market is upending the conventional wisdom that guided buyers and sellers during the housing boom. The changing dynamics have implications for a wide variety of players in the real-estate market. Some brokers are advising sellers to price their homes in the bottom 25% of comparable properties. People looking to enter the market for the first time are being told not to overly stretch their finances because rising home prices may no longer bail them out. Employees who are relocating are being advised to steer clear of new subdivisions where competition from brand new construction could make reselling soon difficult. For the full story click here.