We all have questions but, no real answers when it comes to the real estate market, will it stabilize? will it go up? can it possibly go any lower? how did this happen? Did I as a real estate professional help the growing trend of over priced houses and land and how can we fix it? These are just some of the questions I've asked myself and others' on a daily basis. The answers?? some say that the current market was high in values and needed to adjust and level out, some, that the market was just right and the price for their home or land is not to high. The answers are so varied that everyone I talk to has a different concept.
My answers; there is a direct cause and effect of the market, if to many people sale their home or land over the market price in that area, that whole area goes up in price. When you have buyers that buy at an inflated price of course your not going to argue right? wrong, when you represent a buyer you must work for the best price realistically you can get. Doesn't that cause a reduction in property values? that can happen too! confused? so are many! why not let the market stabilize then buy? because that market may not move without the public buying some of the property, without the market movement needed to keep growth occurring there is a stagnation and possible recession! What can I do about it? just keep advertising in many different level, reduce properties but, don't ask clients do reduce so low that it brings the market everywhere down. So, if I ask my clients who are selling to hang in there and to reduce just a little then what happens if in a month, or two they still haven't sold? will they ask to cancel their listing and move on to another office with the understanding that selling this property is priority and the price is going to kill the neighborhood values because it's so low, or because it's so high it stays on the market forever without a look from anyone and the listing finally expires?
My suggestions; be as honest as you can be, show your best efforts to market the places and then be innovative, creative, and patient, then PRAY!
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