Housing Market Reports
One thing there is no shortage of on the Internet are Housing Market Reports. We have neighborhood reports, area reports, county reports, subdivision reports. You name it, we have those reports available.
Which parties are the most affected by them? Buyers or Sellers? Sellers usually get tons of mailings of recent home sales in the neighborhood, sold cards from the agents that work the area and Comparative Market Reports of all the local housing activities. When homes similar in style and size to theirs come up, they assume that that is price their home is currently worth.
If they want more $$, they usually defer thinking about selling or upgrading and wait for more mailings hoping for higher prices. As soon as they make that determination one way or another, that usually ends their time thinking on the subject.
For would be Buyers, they are more likely to check the internet and see what homes are selling for and comparing neighborhoods and features of the offered homes. They might even drive around a neighborhood or two and check out to see what is for sale and if it fits their general idea of a place they would like to live.
If consumers are not thinking about home Buying, they pretty much don't care what is for sale, though they may actually stop the car and look at a home that has a for sale sign on it just for fun.
So when it comes to the market reports, who would be the more interested? I would say sellers. The bigger problem is that if they are not thinking about actually selling, they are not likely to read the available reports published on the internet. But for those that do, what are they looking for. General trends? Maybe. If the report clearly points out that prices are rising or going lower, it might induce them to think on the subject. On the other hand, if there are more sales or less sales, they mostly think their home is so exceptional anyway, those trends would not affect them when they are ready to sell. They are far more driven to the contemplation of selling by prices rising or falling. Both of these situations can induce selling but higher prices would likely be a real motivating factor.
With all that said, I do weekly electronic market activity updates for all the areas that I specialize in. Making them detailed about their specific neighborhood usually gets a return response. I am often informed of when they may thinking of making a change. I also get invitations to visit and take a look long before others even know they are thinking of selling.
If you are Buying, Selling or Relocating to San Diego and need help from a professional REALTOR®, give me a call or visit my San Diego Real Estate website and
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