Thursday, September 11, 2008

Home Prices in Credit Crunch

Private Home Sales in Credit Crunch

The current economic buzz word flying around in the media circles is credit crunch, and this obviously means a lot of people are holding back and not willing to part with their money. The effect on the housing market is that not a lot of homes are being sold, with a resultant effect that estate agents will almost persuade you that they are the right people to sell your property in this time of economic down turn.

If you really don't have to sell your house now, then maybe you should hold on to it for a time when the economy does pick up. On the other hand now is the time to pick up a bargain property is you have the money.

Whether you are selling your home privately or not, the truth is that your house is only worth what somene else is willing to pay for it, and the credit crunch news all around means that private home sale or not, the price of your house will have dropped from a few years ago.