Three years old.

This is as good a market as any seller will find for the next decade. The fed has lowered interest rates to 4.5%. The fed is even giving buyers an extra $8K (which means only that buyers can bid an extra $8K for the same house).

If you're trying to sell your house now, and you haven't sold yet, you need to lower your sales price as quickly as possible to unload your property now while the unloading is still good. The longer you wait, the higher your buyer's interest rate is going to be, and the less aggressively they can bid.

Ordinarily advice on my blog is of the form "if you're thinking about buying a house now, don't" -- so this is a little out of character that I would have something even remotely encouraging to say to current home owners. I'm not a current home owner, so I don't put much (any) time thinking about what it is to be in their position. But honestly, with interest rates this low, there's never been a better time to sell.

There has never been a better time to sell.

The bubble has peaked in the rest of the country, the fed has stepped in to keep interest rates low nationwide. The Fed stepped in to help the hardest-hit areas; by forcing down interest rates, the fed is supporting higher housing prices. Chapel Hill home owners benefit from these low interest rates -- but only if they sell now. If you haven't sold your house yet, and you intend to sell, you need to sell as quickly as possible. The market will only continue to loose ground from here.

Today's featured properties are the some of the ones that have been on the market the longest. (I am now keeping a database of all the houses for sale as listed on Realtor.com. When I figure out how to post files, I'll upload it for everyone else.)

XXX Tadley Drive Listed 2/13/2008. 669 Days ago.
XXX Rose Walk LaneListed 7/7/2007. 890 Days ago.
XXX Oval Park Place Listed 3/16/2007. 1004 Days ago.

Imagine having your house for sale for over 1K days. This last property has been on the market the very longest. It is coming up soon on its three year anniversary. If a child had been born the day this property had been listed, then that child would be walking, talking, and dressing up like Buzz Lightyear.