Market Challenges! What Does It Mean In 2010?
Without a doubt 2010 has proven to be very different than 2009, 2008, 2007, etc...
What do I mean. This year I'm getting an interesting balance of listings (more so far in 2010 than in 2009) yet the quality and the expectations around them are very different. For example, there are buyers how still don't believe that San Francisco has held up well and isn't about to collapse allow for greater buy points. The sellers are still thinking that the market may be challenging but their property is worth more than the market appears to think.
View from my listing in Millbrae, CA just south of San Francisco. Smart pricing got this in contract in a few days. After twisting some arms we accomplished our goal.
\
Great Work If You Can Find It!
It has been somewhat frustrating. It requires solid down to earth conversation with both buyers and sellers. I'm getting through more to the buyers than I am to the sellers. The sellers reluctantly follow my lead. What has happened is that to get a property sold it MUST BE PRICED RIGHT!!! That means pricing aggressively. That means that in many cases it will be lower than the owner's expectations. It is not 2006 or 2007. Sellers need to move the time machine dial to today and get real. I understand their position but it's not going to help if the property is to be sold.
Somedays You Just Feel Haggard From It All! Some Days You Just Got To Laugh!!!
Coming Soon! New Listing in Bernal Heights. That should be fun! 160 Manchester in Bernal Heights
Hard Work - Where's The Fun?
On a lighter note, our inventory in San Francisco continues to remain low which would indicate potential higher prices. What I believe everyone is facing more than ever are financing issues. Maybe today's standard are more appropriate yet it's making it harder for many to qualify, the time lines are stretched and if rates start moving higher we could see additional strain.
2010 Will Be Interesting!
Well, 2010 is interesting for sure. Last year I worked twice as hard for half the pay...yet I had my best year because I gave it a grea effort. It appears that this year will require the same hard work, more patience, and perhaps a lot of humor to get us through! How is your 2010 coming along? Please share!
Comments(5)