Whad'ya have? What'ya have? The good old days are over!

By
Real Estate Agent with Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC RB14037276

Whad'ya have? Whad'ya have? The Good old days are over!

The fast food mentality of buying a home is over.

Painting by Larry Johnston

Acrylic Painting by Larry Johnston©

For several years there was an over abundance of homes for sale on the market. When you looked down a street, any street, you saw For Sale signs everywhere.  Buyers were having a feeding frenzy.

If they wanted lower prices, they got it.  If they wanted sellers assistance, they got it. Even if they wanted the carpet replaced, the sellers were doing it, just to get the home sold.

Extras were being sold outside the property, like lawn mowers, BBQ Grills, Pool tables and furniture were going like hot cakes.  They could have probably gotten the family dog if they asked for it, but now the inventory is down and the sellers have the advantage.

The Fast Food Mentality has ended and they can't have it their way.  The sellers are demanding the higher prices and the buyers don't understand why they won't negotiate to the point that they are giving their home away.

It's time to explain to the buyers when they ask to be shown their first home on their list of many, that the house is For Sale, NOT ON SALE.  The faster the buyers understand what todays prices mean, the quicker they will purchase a home, instead of saying,  "That's just more than I wanted to pay."

What are your thoughts?  How do YOU tell your buyers that they missed the buyers market, and still able to sell them a house?

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If you know of anyone tht would like to buy or sell a home in the Elkhart, Indiana area, have them call me:

Larry Johnston, 574-304-7577, Elkhart County Subdivision, LLC, Elkhart, Indiana, or email

larry@larry-johnston.com

 

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Rainmaker
2,441,861
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I love the chili dogs at The Varsity! What'll You Have?

Okay, back to the post.  I tell them upfront that the Buyer's Market is over but we can still find them a home that meets their needs.  I talk to them intensively in our introductory meeting to help them determine their wants, needs and must haves.  We make lists and rate each item.  Then when we are house hunting it is easier to get them on the right track.  I keep the list and I show it to them occassionally.  I also talk to them about not buying the first home they see but it could indeed be the one they first see!  If they feel it, don't delay in making an offer or it could mean not getting it.

Nov 02, 2013 11:46 AM #1
Ambassador
2,908,067
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Larry, Is that the same The Varsity in Atlanta or a different one?

Nov 02, 2013 11:56 AM #2
Rainmaker
4,799,256
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Great painting, Larry!  Yes, buyers need to understand the reality of the market and not what they imagine to be true.

Nov 02, 2013 09:01 PM #3
Rainmaker
1,682,839
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Evelyn, Thanks for commenting.  and yes....Good Chili Dogs.

Nov 03, 2013 12:01 AM #4
Rainmaker
1,682,839
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Liz and Bill, Yes you are right, It is the Varsity in Atlanta, with the old Varsity sign, and I had to put in a car like the one in American Graffiti.

Nov 03, 2013 12:04 AM #5
Rainmaker
1,682,839
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Gabe,  Thanks for the nice comment on my painting, and yes, the object is to make them understand the market.

Nov 03, 2013 12:05 AM #6
Ambassador
2,806,353
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Larry - Nice painting. I grew up eating at the Varsity (cheezeburger, onion rings and a frosted orange!!) and I still go back every time I'm in Atlanta. Their motto used to be "No food over 24 hours old" - I think they changed it a while back to 12 hours. It's really horrible greasy food, and once you're addicted, there is no substitute - I wi9sh there was one here.

Nov 03, 2013 01:18 AM #7
Rainmaker
1,682,839
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Dick, Thanks for tyhe nice comment, and now that you mention it, it was very greasy, but boy was it good.

Nov 03, 2013 01:21 AM #8
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Rainmaker
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Larry Johnston

Broker,Friends & Neighbors Real Estate, Elkhart,IN
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