I have had my home in St. Charles listed for sale since April, 2008. During that time period, I have had 2 realtor companies and 60+ individuals going through my home. I also lowered my asking price 3 times. Now I have a nice ranch home, 3 BR, 2.5 baths, a finished basement and a 4 season sunroom to name a few amentities. I don’t HAVE to move, I wanted to downsize at this time in my life to a 2 BR, 2 Ba condo. I received zero contracts. Thebuyer would normally “go down the street” and buy a comparable (or less of a home) for 20 to 30 grand less due due a short sale or a forclosure. I could not compete money-wise. This is an extremely frustrating position to be in and I wonder how many other people cannot sell their appraised value priced homes due to the failing market. My realtor has told me horror stories concerning the sale of homes. I heard the government was going to clamp down on forclosures and short sales, is that correct information? Whendo you anticipate this will turn around? Since our listing contract has expired today, I have made the decision for now, to take my home off the market. I’m uneasy to hear that realtors are telling folks that “now in the time to buy.” Just my opinion…..

We’re going to put our home up for sale in April. We don’t have to sell, but with a growing family, we are quickly outgrowing our 2 bedroom home.

We’re actually looking for a home like Bev describes - at least 3 br, 2 bath preferably a ranch with a large yard. We’ve been looking for awhile just to see what’s out there - and let me tell you there isn’t much. Maybe I’m just too picky.

Bev, I don’t know why you would be uneasy about potential buyers being told it’s a good time to get out there. The only thing that’s going to get our values back up is if people do start buying. Getting the buyers active is the only way for the demand to start catching up with the supply.

In the mean time, as long as homes are selling for 20-30k less than yours, yours is not worth what you are asking. Of course, if you wait for home values to go back up, you’re not going to get the bargain you’re hoping for on the condo either. So sell at a loss and buy at a bargain now or wait for recovery to get your extra 20K and pay more for the condo later. What’s important to you?

Now is the time to buy,if you qualify for a low rate mortgage.
If you want to sell good luck. You can’t take a tax loss on your principal residence.

To Tony: So those states have legislation to modify their law? Missouri for a short while had legislation to execute litterers. Having legislation submitted isn’t the same thing as passing those changes. If it were, by your thinking, the legislation that has been submitted in Missouri to potentially ban smoking would be law.

I will be selling my home in May & will be looking to relocate in eastern St. Charles County. Homes valued below $200k are still moving quickly. I agree, now’s a great time to buy - what you lose on the front end of a sell-buy transaction, you’ll more than regain on the back end.