SALE PENDING Signs Have a Way of Making the Phone Ring
I suppose it's a matter of human behavior that real estate buyers watch each other and they tend to move when they notice others are buying. There's no shame in admitting that we are all influenced to some extent by what others are doing.
One of the things I've learned from over twelve years in real estate sales is that real estate markets go through drought spells. When things are slow, it can seem like an agonizing wait before the market picks up again. But once something sells, other would-be buyers take notice.
I received a phone call last week from a prospect who has been watching the Madeline Island real estate market for over a year now. She contacted me in mid-January about one of our listings, but I heard nothing further until last week, when she apparently discovered that someone had taken the plunge and submitted an offer on one of the homes she had been following.
Agents and brokers have a saying that goes something like, "sometimes a prospective buyer has to lose out on a home or two before they realize they need to make a move". I'd say that's especially true in a second home community, where the purchase of a vacation home is, for the most part, a discretionary purchase.
There's a moral to this story. Don't wait until the home you've been dreaming about has gone off the radar. The best way to avoid disappointment is to get serious and submit an offer.