Best intentions in Real Estate are properly measured in results.
A: We intend to sell our house, but we won't lower our price below a certain point, or make some repairs.
B: We intend to buy a house, but we only want an absolute steal. We want the infomertial deal as seen on TV. I want to offer 50% off list.
These two intentions tend to stagnate the home buying and selling process. As this stems from a give and take protocol, an unmovable party causes many contracts to simply die in negotiation.
There has to be a reasonable approach to expectations. And if there is, results will generally follow.
There is little general urgency in this market from a buyer's standpoint. Many are waiting for a reason to move. The only thing I see to make them move (outside the Tax Credits) is fear of loss. Many lose a great deal because they think the limbo bar will always go lower. If the property is priced agressively, and is a reasonably good deal...the house will sell. Let a buyer see this enough, and we will see fear of loss set in.
Sellers are on the flip side of this coin. They hear voices that the limbo bar is going higher. And feel they sell themselves short. Again ...one lost contract, sprinkled with a little time, brings fear of loss.
When Mortgage rates eventually start inching up, we should see an uptick in buyers moving. But now in many markets, what we have here is: a failure of intentions.
And All we have to fear is fear itself.
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