One of the fun things about real estate is the office banter at weekly sales meetings. And for the second week in a row, conversation swirled around the mood of the market… price reductions, seller anxieties, bonus offerings for buyers and their agents, concern over the lack of activity. Now that sales are off by approximately 30%, it’s a whole new world.
But as my broker pointed out, the market is the market, and we have to adjust. Sellers need to aggressively price and market their property to get results. Buyers can take more time to look around and should negotiate hard when they find something they like. It is what it is, and the people who don’t see it will not succeed. July’s market report coming soon…
gotlots
Seller anxieties? Anxiety season has not even begun. Wait a couple more months when the winds of October start to blow and sellers realize the summer is gone. And that there are 6,000 resale houses on the market. And hundreds of new houses finished and the builders slashing prices.
If you want to lock in declining value, there has never been a better time to buy.
gotlots
Take a look at the MLS listings in the $350K – $360K range. That is just a spread of $10K. A small segment of the market.
There are 179 houses in that price range.Yes, ONE HUNDRED AND SEVENTY NINE. Not counting FSBOs. Not counting new houses in that price range.
Imagine three months or so from now when they are all covered in snow.
This is going to end badly.
Barrett Niehus
Your broker is exactly right. The market has shifted as it does every ten years or so. The only thing that we can do is change the marketing tactics that we use and manage our clients’ expectations. People will never stop moving around, they are just a little more picky right now.
Barrett N.
http://www.4MySales.com A Simple System to Close More Sales