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The Market Of Opportunity!!

I don't know about you, but I am tired of hearing all the gloom and doom on T.V about the market we're in! This is the market of opportunity! Buyers finally have a choice, well, lots of choices and that's a good thing! Mortgage rates are still favorable and lenders want to get you financed! Sellers don't despair, get yourselves good agents and listen to them. We know what we're talking about. So, yes you may have to make some concessions or take a lower price, but; whatever you think you are losing in the sale of your old house will be more than made up for in the purchase your new home!!! That's the beauty of this market of opportunity!!

Posted by Jessica Kibec on 11/15/2007 12:01 AM

Comments (11)

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11 Comments on The Market Of Opportunity!!

NOV

2007

Jessica: Buyers seem to be in some kind of "holding" pattern, even though with all the national news media, all they hear is that it is a buyer's market. The only thing I can think of is that they fear that if they buy something, it, too, will drop in value. It appears they are looking for some sort of sign that the market has bottomed out.

I think that the buyers are out there... they are just sitting in their current houses waiting for them to sell so that they can buy a new home! Someone needs to turn the record player back on so we can get the game of musical chairs (or in this case, musical houses) going!

I think buyers are starting to come out of hiding...I personally have had a spoke in buyer activity on my listings, and I have had something like 4 buyers pre-qual in the last couple weeks...

Consumers are not as ignorant as the press would lead you to believe.

They are watching property values very close, looking for indicators that the market has hit bottom. Lending practices have lightened up a little-bit, but if the bank can't find a way to ease-up on the requirements, just a little more, then this slower-period may last for a little longer than many Real Estate agents will be able to hold-on. We are on track for 5.5 million transactions in 2007, and the experts expect the same in 2008 - a somewhat normal pace nation wide. One caveat, however, is that there will be 1 million new homes competing with the older homes throughout 2008. Prepare yourselves now, to capture your share... and more.

Keep your heads high, educate your clients...and ride the wave until you land on solid, warm sand. :-)

NOV

2007

Welcome to ActiveRain, Jessica, from a fellow KW agent! Great perspective - the market always has opportunity if we look at it with an open mind.

NOV

2007

it is amazing that so Realtors have commented that buyers are looking for the market to hit bottom. It is up to us to explain to them that they only way to know when the market hits bottom is when the market is going up. Hindsight is the only time to know truly when the market hit the bottom. For a buyer is there more opportunity on the way down or on the way up?

Preach it Sister! Preach it loud and make it known to all!

The opportunity is amazing. Its a shame for those that don't see it!

NOV

2007

Ralph~~I agree hindsight is the only way, I think most of our clients know it too, they just want to hear our response.

As far as buyer opportunity goes, there is something to be said for the ones who buy on the way down. It takes guts and those are the buyers (investors) I love to work with!

Ed~~Thanks for the comment, glad you agree!!

Hi John, thanks for the welcome. The market is always "Unbelievable" at KW!!

NOV

2007

Jessica, buyers have to understand that no one can time a market predicting a bottom. If they feel a house will drop another 5% in the next 3 months, then offer 5% less now. Sellers, as you pointed out, have to understand market value. The market is always changing. If they want to wait it out till prices rise again in their area then they have no sense of urgency to sell. It could be worse where they are chasing the market down and six months from now selling their house will yield a LOWER price. No one knows any of this for sure. Long term real estate prices rise.

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