Why won't my home sell. It is the best priced in the Neighborhood?

Many people are asking "when will housing recover". Some point to interest rates and say when they get back down people will start buying. Are their good buys out there? you bet. Some homes in the treasure valley are selling for around 60% of what they sold for two years ago. Are interest rates down? Yes. So why aren't people re-entering the home buying market? Consumer confidence. First and foremost the confidence that you will have a job tomorrow has a great effect. increasingly though, the one that is having a greater effect than before is the cost to commute to work,school, and shopping. Potential buyers are weighing the price and amenities of similary priced homes in the neighborhood, But increasingly overall commuting costs. Sellers and marketing agents should keep this in mind when pricing. It is not enough these days to say the home down the street is not as nice or big as mine or only using comparables from the neighborhood. If sellers are serious about selling in today's market, comparable home pricing must take into account overall commuting costs. Buyers today are willing to take less home in order to reduce overall commuting costs This trend will comtinue regardless of what oil prices do.