As this is my first blog, I apolgize for not knowing what this is all about, but I find it very interesting, and so, I thought I would try.
Hopefully, if you are reading this, you might want some information, just general conversation of what is going on in my local area. If you do, write and ask me and I will either tell you what I know, or find it out for you.
Today, this day 3 of the New Year, I have not had one of my listings sell, nor, has any of my buyer clients purchased a home yet. We still go out and look at EVERYTHING! Yes, everything. Why? Because we can. There are alot of homes for sale and in the beginning, we truly looked within a price category, which is generally how a buyer will shop. Now, things are different, we shop in a price range that we would not have before, but due to the longer shelf lives of these homes, buyers have a new world opened up to them. My buyers, at my coaxing, will shop in a range anywhere from 3% to 10% higher and some actually shop more by days on market. So, as a result, we have many to consider. The funny thing is that they keep going back to the same ones. In some cases, its because they took a shot and the seller said NO WAY! Okay, we keep moving forward, but we keep watching, waiting. Eventually, most sellers will reduce or should I say "reposition" the price of their home, and then we go back, back for the kill. This time however, my buyer offers less and the seller says "NO WAY". Whats happening? The dance is not going anywhere, it will never end and everybody gets tired. There has to be a change in order for this market to open up and move forward.
I usually tell my buyers when this happens that the seller is probably either very reluctant to sell, still holds on to the idea that they know the worth of their home, or they have not been fully explained what is actually happening. Either way, no matter what the reason, we do need to move on. This is the best time for buyers to buy and for sellers, its best to list right now, today, don't wait. There will be many moons passing before our local market recovers to what was.... So, with my clients,we do our research, we narrow down our wants, desires, needs to have things, and then we find the one we want. We look at its history, compare the other homes NOT SELLING and then we negotiate as best as we can, reasonably but still hard and we try. If we dabble too long, and play the waiting game, and don't keep current with what is happening, then the tide will have shifted, interest rates will be doubled and the sellers market will return.
Please understand, my comments are not to be taken as insulting to either sellers or buyers, but truthful, factual, at least for now. I guess my point is that as of NOW, or today, if you are thinking of buying a home or are actually in the process of looking, choose wisely, do your homework before you even look, negotiate respectfully if this is the home you truly want to own, and above all else, trust your agent to guide you. They are the professional, the person who does this each and every day.
Well, if you have any questions or would like to know anything else about my local market, let me know. I haven't added any links or tags, I am not sure what that means? Any ideas? Thanks, Kathy
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