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But, It's a Buyers Market!!!

If I hear, "But, It's a Buyers Market", again I think I will pull all of my hair out. Whoops- too late... But maybe go clinically insane... That is debatable...

I am thinking that I would have to be living on some other planet not to realize this. Also, there is a certain amount of client control that has to be exhibited. However, all of the client control in the world is not going to allow you to fully influence those that choose to trust us... In fact, I don't ever want that much power or control over another.

Back to it being a Buyers Market. Yes it is, but let us not forget that things are not going to always stay this way and the market will turn once again. One day it will be a sellers market and shoes will be on other feet.

At that time, the agents that typically have the most listings will hold all of the cards. Karma you say, lets be careful how we treat one another no matter what the market!!!

I remember what my father used to tell me, he said, "Son, be careful of whom you step on while you are ascending the latter of success, you will be meeting them on the way down..." God rest his soul...

He also told me three men can keep a secret if two are dead... But I think the previous quote is more relevant.. Let me know....

With Honor,

Posted by Connor & Paris MacIVOR - Realtors Santa Clarita California Real Estate on 09/30/2007 07:50 AM

Comments (9)

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Originally posted at: REMAX of Santa Clarita Real Estate: But, It's a Buyers Market!!!

9 Comments on But, It's a Buyers Market!!!

SEP

2007

Its only a buyers market to all those homes that are overpriced. Price them right and buyers trip over themselves getting to write an offer. I've seen it at least a dozen times in the last 9 months, and guess what, my buyer said the same thing, "but its a buyer's market!"

Hey Connor,

I agree, I even hear it from clients when we are prequalifying them. I tell them how much they can afford and then they comment about looking at homes 100k higher. They think people will drop 100k off the price of the home automatically since it is a "buyers maerket" and I tell them....you are going to have a difficult time finding a seller who will drop their price 30+ percent to sell to you.

Sean Allen

Market, Schmarket. It is a media induced buyers market. As some one else said - A good looking house that's priced well will still see a feeding frenzy or sellers market in ANY TIME!

It is not yet a buyer's market because the homes are not priced where the buyers will buy.

It's a "dead man's market" because the market is dead.

It will be a buyer's market when prices reach the buyer's comfort level.

We've got about 25% down to go in my area. You can't raise prices 100% in 4 years, come down 10% in two years and be in any kind of market.

Builders led the first round of price reductions here. Now banks are leading the second round with foreclosures.

Home owners will be the last to come to market, kicking and screaming.

I always learn something from Lenn's comments. New homes and homes sold in the last 2 years are taking a bath here.

We have some rural pockets that are typically slower than others that are completely dead - and added market factor is "gas prices".

California real estate is different because our markets are so huge.. RE in CA is local and markets in our state vary from a Lenn's Dead Man's market to pricey prime properties that are selling for some big bucks with multiple offers.. and of course all the markets that are somewhere between the two extremes.

A buyer's market in Victorville is not the same as a buyer's market in Bel-Air.. one may see prices slashed by 50% while the other is seeing property prices not dropping so much as reaching market value as they were simply over-priced in the first place..

OCT

2007

Buyers market, sellers market, lets wait n see market, rates too high in this market, excuse excuse excuse.

The only thing that really matters is that its a clients market.

Good post.

Martin

Hi Connor,

You are right about having the listings when the market turns. I think of it this way - you only need one buyer for the one property that is for sale at any given time. There are always people who must buy or sell, regardless of the market, because of other circumstances in their lives.

I enjoy seeing your smiling face (and Paris' too), whenever I drive down San Fernando Road. I would love to see you two at a Rotary Club meeting some Wednesday.

OCT

2007

Conner-I firmly believe that listings are the name of the game and provides FREE marketing. I laugh when I hear agents say they are going to focus on buyers and yes some can pull it off but I think now we have to do both but still....listings provide buyers. Great post...and thanks for commenting on my post

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