The "market" has its own siren song...it's own mind and it calls out to both buyers and sellers alike. It can not be escaped by either and generally speaking - it pleases no one completely. I suppose you can think of the "market" as some sort of collective - for Star Trek fans - this is something akin to the Borg..."Resistance if futile...."
Sellers with homes listed today will be able to identify with some of the antics that buyers in a bear market will pull. But this is about a listing that was active 14 years ago in 1996 - during another deep housing recession. I wasn't a real estate agent at the time, I was a seller. My mother had just died after a prolonged illness and I was listing her house for sale.
Scarsdale NY housing has been in the cross hairs of the housing recession for a while now. Initially, it was resistant to the correction taking place in other parts of the country. Eventually the forces that had hit other parts of the country so dramatically, came home to roost even in the most resilient areas of Westchester. However, some of the numbers show signs of a bottom being at hand.
When we invest in our homes there are almost always two goals in mind: we want to enjoy the changes ourselves, but we also want to know that what we do will have a positive impact on our home’s value when it comes time to sell.