Soon, more people moved here and we became members of the establishment in the eyes of these newest of newcomers. My husband and I joined the hamlet’s intriguing and ongoing discussion of which houses were on the market, at what price, and whether the owners could get it, selfishly hoping they could for what it might mean for property values at large, at the same time not wanting anyone to leave.

A stroll through the hamlet now will reveal to anyone paying the slightest attention that a number of homes are for sale. What this may mean to property values and the stability of the community in uncertain economic times is a question I put to two realtors who know our area well.

I first spoke to David Sanders of Sanders Properties, Inc. He maintains that the market remains healthy. Palisades contains a broad cross-section of housing stock and a wide range of prices. Right now, the less expensive homes are selling more readily than the high-end ones, since banks are requiring a great deal more paperwork for a property priced over $750,000.

Mr. Sanders advises that the best way to make your house saleable is to review it with a critical eye. Put your house in pristine condition; get it ready as if for an opening night on Broadway. For those who are willing to consider it; the time to rent is considerably shorter than the time to sell and may offer an acceptable way to wait out the recession.

Debbie Blankfort of Baer & McIntosh Real Estate agrees that Palisades real estate has held up extremely well. In her experience the most important factor to get right is price. Buyers will pay a premium for excellent condition and fair market value, particularly in the first 30 to 60 days, but rarely six months out. Accurate pricing can generate competition and bring in the best deal.

Will we see the return to a seller’s market? Not before 2010, so if you can, it is better to sit tight. That is good news to those of us who want life here both ways; increasing in value, and forever staying the same.