Do you remember your first junior high school dance? The girls stood on one side of the gym and the boys stood on the other. The teachers were cajoling the boys to go over and ask a girl to dance. A few boys made the move, and soon there were a few boys and girls dancing in the middle of the basketball court. That's what the real estate market is like in San Diego County right now. The only difference is you have to pay for this dance.
Sellers are on one side with their houses all prettied up waiting for buyers to come make an offer. Buyers are on the other side looking, looking, looking. Every now and then, a real estate agent will get the two to dance together.
This behavior is perfectly normal when the market turns from sellers to buyers: sellers can't believe the double-digit gains of yesteryear are over, while buyers can afford to stand pat. In fact, the only property selling right now falls into three categories: very high-end property, because pricing of those homes is so wacky anyway and the people buying them are unaffected by the economy; excellent properties that are priced right at, or even a tad below the market; and the homes of people who have to sell now.
My advice for sellers, right now it is all about the pricing. Price it right and your home will sell. Buyers are looking for bargains. The question is how to make your home a bargain, or at least look like a bargain. To price it right, you will need a comprehensive & accurate Comparative Market Analysis (CMA) to determine your asking price and probable sales price. For complete information on a particular neighborhood or for an evaluation of your home's worth, call your local realtor.
Comments (1)Subscribe to CommentsComment