BLOOMINGTON - Larry Bloyd is a frustrated home seller. For nearly five months, the Normal man has been waiting patiently for his bi-level home on Nottingham Chase to sell.

The three-bedroom house has been on the market since last fall, far longer than the two months it took to sell his last home seven years ago.

"After this long, I have no clue," Bloyd said. "I'm sure we're not the only ones in this predicament either."

Meanwhile, Philip Blaxton is a hopeful home buyer. The Bloomington man and his wife have been house-hunting in the Twin Cities for about two months. They're excited about the prospect of a good deal and patient enough to wait for the right house at the right price.

"I've noticed the prices going down. We've been watching a few specific houses, and those prices have been slowly dropping," Blaxton said. "A lot of the houses we've been looking at have been on the market for more than a little bit of time."

Real estate agents have repeatedly said Bloomington-Normal has a strong housing market. Whether residents agree clearly depends on whether they're trying to buy or sell.

The 2,918 homes sold around the Twin Cities in 2006 was the second-highest total since 1995, noteworthy given the national slump in the housing industry.

But it took about 10 percent longer to sell some homes in Bloomington-Normal than it did just a year earlier. And hundreds more homes that had been on the market for months didn't sell by year's end.

Market changes

"It's definitely a buyer's market," Bloyd said. "We've dropped our price."

In the Twin Cities, an existing home was on the market for an average of 83 days in 2006, according to the Bloomington-Normal Association of Realtors. That's a week longer than the average of 76 days that resale properties took to sell in 2005.

Statistics that separate active homes in Bloomington-Normal and the surrounding towns are not available, but, in total, 771 existing homes remained for sale at the end of 2006 for an average of 132 days - or more than 4½ months. It's the same average as the end of 2005, but there were 44 more homes.

Sellers' struggles in the Twin Cities reflect issues that have been seen throughout the country. Home-buyers across the U.S. have been at an advantage for much of the past year as the number of houses for sale began to outnumber the shoppers. Homes remained on the market longer and prices dropped.

Trying to sell

Bloyd is a perfect example. He originally listed his home in September at $143,500. He marked it down to $139,900 in December.

He thought the upgrades on his 22-year-old house would be attractive to buyers. It had a new furnace and air conditioner installed in 2004 and a new water heater put in at the end of the year. The house also has fresh paint and new doors. Plus, all appliances will stay.

"We were hoping that'd be very marketable," Bloyd said.

The market in Bloomington-Normal is not as bad as it is across the country, Bloyd said. Nationally, home inventory is at 6.8 months, according to the National Association of Realtors.

Still, Bloyd describes the local market as "very spotty." Some homes are selling while others are not, he said. He thinks his house hasn't sold because of a combination of winter weather and current market conditions.

"I'm just trying to be patient about it," Bloyd said.

Seasonal ups and downs

Even though sellers like Bloyd are tired of waiting, real estate agents do not see cause for alarm.

The winter season plays a role in the current buyer's market, said Beverly Edgerton, a real estate agent with Re/Max Choice in Bloomington. People have a prejudice against moving in November, December and January, she said. Other factors come into play in the market, too.

"Price, condition, location - those three things are what sell or keep the house from selling," Edgerton said.

Timing is crucial when you're trying to sell your home, added Georgean Fish, a real estate agent with Coldwell Banker Heart of America in Bloomington.

"That first two weeks is a vital time. If it's not ready to go in the first two weeks, it's no longer a hot item," Fish said. "Have it ready the first day you put it on the market."

A home that's for sale for 30 to 60 days is a good amount of time to be on the market, Edgerton said. She recommends a price reduction after a home has been on the market for 30 days.

When asked why the local average is higher than the 30- to 60-day benchmark she suggests, Edgerton said Bloomington-Normal simply has a good amount of inventory and choices. The area has grown and added newer subdivisions. Homes will sell faster in an area where buyers don't have as many options, Edgerton said.

Fish said some houses sell quicker than others, but the fluctuation on the number of days on the market is not drastic enough for real estate agents to notice a change.

Looking for a house

But the struggles of some sellers ultimately will favor people like Blaxton.

He and his wife are looking for an older home, one that needs a little bit of work so they can put their own personal touches on it. For example, they wouldn't mind finishing a basement or refinishing hardwood floors.

"There are a lot of houses built at the turn of the century. Those are some really nice homes with a lot of character and good craftsmanship put in them," Blaxton said. "That would be our fun house."

He said they have a good selection of homes from which to pick. The difficult part is comparing all of the homes for sale, he said. They're considering the appearance of the home, its location and price.

Blaxton said he sees more for sale signs than sold signs outside of houses. A handful of houses that were for sale when he moved to Bloomington about eight months ago still are for sale today.

He's encouraged by his observations because he hopes it means a seller will negotiate more on price when the couple is ready to buy. But he also worries about what might happen five or 10 years down the road if they want to sell.

"We've had a long run here with a great housing market, but it seems to be cooling off," Blaxton said. "How long is that cooling off going to continue and how will that affect the future?"

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Home tips

It can be tricky business to buy or sell a house. Buyers have a lot to consider about what is most likely the biggest purchase of their lives. Sellers have to make all the right moves to sell their home. Real estate agents offer the following tips for both buyers and sellers in today's local real estate market:

Buyers

- Compare homes. Look at amenities in homes in the same price range. Visit enough homes to eliminate the ones you don't want and to know you've found the right one.

- Consider how long the house has been on the market.

- Look at the neighborhood.

- Feel confident with your price by comparing prices of like homes and homes in the neighborhood.

- Be reasonable with an offer if you like the house.

- Find a real estate agent you like and stick with that person.

Sellers

- Neutralize your home.

- Keep it clean.

- Have it ready to go the first day it's listed. For example, if the carpet needs to be cleaned, clean it before you put the house up for sale.

- List your home comparably to the neighborhood and similar homes.

- Always make it available for real estate agents to show to potential buyers.

- Listen to your real estate agent, especially on price suggestions. An overpriced house will not sell.

Sources: Beverly Edgerton, RE/MAX Choice; Georgean Fish, Coldwell Banker Heart of America