Thoughts of R Scott Pierce Real Estate Appraiser

Recently I read an article in the Hattiesburg American, that quoted a realtor saying the local market is balanced.  I am not sure what that means, but if balanced means values are falling, many homes are on the market, and concessions are running rampant...then I will except balanced.  I prefer big time adjustments.   Those of us who have been in the the market during the past 4 years have been spoiled.  Listing were snatched up, asking prices were blown out of the water, supply was going down faster than a bottle of vodka at Cortney Loves' House.  That is not the case now.  Inventory is building, realtors are begging, and supply is growing like the alimony Britney will be paying k-Fed.     Seriously speaking....I think is time for all of us to except that values will be making a big time adjustment.  So lets pull up our sleeves, adjust all our listing down 10%, and quit trying to keep up the Jones'.  They could be taking us to a scary place in home ownership.