Testing the Market....in Private

By Sara Huebener

It's no big secret that we are in a real estate market like no other.  We've all been raised with the core belief that homeownership is the American Dream, and the way to build long-term wealth.   In recent years, the American Dream turned into the American Nightmare for many, as people who bought homes (particularly between 2004 and 2007) saw their home values plummet in a matter of months. And the higher the priced home, the harder the fall.

Years ago, people moved for a variety of reasons....job transfers, lifestyle needs, school district preferences, and also, the now-seemingly luxurious reason of "because they just wanted to".  And while employers are still moving employees, and people still need to upsize because of children or downsize because of retirement, we are simply not seeing very many people moving "just because".   Those that can (and who bought during 2004 and 2007) are uncommon, and lucky to have the ability to do so.

That said, an interesting trend is developing in West Savage.  Now that we are seeing heightened activity in West Savage and homes are starting to move again, some people who don't know if they can get what they need from the sale of their homes are increasingly beginning to test the market....in private.  West Savage has a number of homes actively on the market without For Sale signs in the yards.  While we certainly have seen these "secret sellers" in other markets, it is increasingly prevalent now.  Most likely, by not using a sign, neighbors won't know if a house fails to sell for the desired price, and the house can be easily pulled from the market without any social ramifications.   

West Savage has at least five homes listed right now that have no For Sale signs in the yards, as sellers work to get their homes sold without knowledge of the neighbors.  Given what has happened to our market and the shrinking choices offered to many people in terms of financial flexibility, we say this level of privacy is A-Ok, and we respect their privacy while still keeping their homes in mind for showing to prospective buyers in the area.