Stalemate?Perhaps Jonathan Clements, a personal finance columnist at The Wall Street Journal, is also a chess grandmaster!? In a recent NPR interview, he spoke of a possible real estate stalemate . . .

In the interview, Jonathan ponders “…are we going to see prices drop, which will encourage buyers to step up to the plate and purchase, or are we going to continue with the standoff, where sellers are reluctant to cut prices and buyers are reluctant to commit?” He then makes some other great observations about selling in today’s market:

  • Some sellers look at pricing psychologically — they want to sell their home for what they paid for it plus improvements, or at the price the neighbors sold their house, etc.
  • Real estate is an expensive asset to hold, given mortgage principal, interest, taxes, insurance, maintenance, etc.

The interview (here) is brief, but offers some interesting perspectives on selling in today’s market, as well as on the strange standoff in which buyers and sellers are currently engaged.