Which comes First The Chicken or the Egg?

Real Estate Agent with RE/MAX Professionals, CT 203-206-0754 REB.0759001

There probably isn't a person around who hasn't heard this question at least a thousand times. The argument could go on forever and still not be resolved. So, also is the case with some of the seller/buyers in the market. The statement is first offered that 'we want to up-size or down-size our home'. Can we start looking for a new house now?

Whether it's for a better school system, or to get closer to a job or family, or just because it's too much house with everybody grown up, we have all heard this offering a few times. In the type of market we had not too long ago, this might not be all that hard to do. But, given the conditions of the current real estate market, trying to find a qualified buyer for an existing home isn't necessarily the easiest thing to do.

The majority of buyers in the market place are looking for that steal of a buy that's called a foreclosure. Once that avenue has been explored, then there's the variety pack of offerings with conventional home sales, where the number of properties for sale can almost create a which do I go for first mentality and can I get the 'perfect' home for the same price as the 'needs TLC' home?

I was working with a seller/buyer that had a standard tract home in a development of 120 similar cookie cutter properties. Of course theirs was the best on the hill, but at the time theirs was on the market, there were 8 others as well, with probably no more than $5,000 separating the bunch. Their frustration grew each time they tried to place an offer on a home with the sales contingency clause and to have the offer rejected. The pain didn't ease as the other home stayed on the market only slightly longer then was sold. Even though their home was well presented, and priced tight to the market, their were too many offerings and too few takers.

As we continue to loll along with inventories holding at 10 to 12 month levels or longer, the frustrations are repeated over and over. These pains will remain until the riddle is resolved and we can determine whcih actually came first.

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Ed Silva  RE/MAX Professionals,   203-206-0754


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