Chewing over the buyers we’ve recently encountered, my colleague just said, "I find that the more inexpensive the house, the more the buyer wants given to them in incentives." 

We aren’t sure if buyers who are purchasing less expensive homes don’t have the money for downpayment and closing (if they don’t have either, they probably should NOT be buying) or if they just have the mindset that they’re "owed" something for taking that home off your hands.

We also think that with it being a BUYER’s MARKET people seem to believe that they can get homes at dirt cheap prices, so that’s all they offer. 

I say this at my own risk, but if you don’t have to sell right now it may be a good idea to just sit tight.  The market will eventually recover, especially since the Feds are stepping in to rescue the U.S. financial market.  That rescue feels a bit like take and take to me - these financial giants make huge profits, yet when they falter, the government rescues them.  I believe this is important for the investors, but for those in management I quesiton the golden parachutes they have to float their way into a wealthy retirement.

Meanwhile, what does the Fed rescue mean for struggling homeowners?  According to CNN.com,

Here’s how the bailout could work: Once the Treasury Department takes hold of the securities, it can review the terms of the underlying loans and the financial shape of each homeowner. The department then could opt to modify the loans - by reducing the interest rate or principal balance - to affordable terms for borrowers.

I know my friends who are suffering could use this help.  But is it too good to be true?  Maybe.

"The No. 1 barrier to keeping people in their homes has been the challenge of these loans being in mortgage-backed securities," said Ken Wade, chief executive of NeighborWorks America, a national community revitalization group chartered by Congress whose board is made up of bank regulators. "Counselors across the board say that is the major hurdle they are facing."

As I’ve said before, these are interesting times we live in.  Keep a cool head and a steady hand.