How many of our prospects made a new year's resolution to buy or sell a home this year? I'm sure there are many, and now is the time to contact them. Ask them, "Is this the year for a change of address?" I had two people call me today, saying they are ready to make a move. They realize that while they may be selling their homes for less than they thought, they will be buying their next home at a good discount. People are being practical, not speculative. No one is talking about flipping any more. Instead, they are looking for a well priced new home they can enjoy for several years, and maybe sell sometime in the future, when this recession has finally run its course.
The momentum is with the buyers. All the negative news reflects the caution with which buyers are approaching this market, and not their desire to take advantage of low interest rates and prices to buy their next home. Buyers are informed, but they are taking their time to purchase. They are ignoring houses that are overpriced or not fit to sell, and they know they are in the driver's seat. What does this mean for us Realtors? Now is the time to become an expert in your market area, identifying the best properties for the money. It's also time to assemble a team - attorneys, accountants and mortgage officers - that can close your deals efficiently. It's time to let the public know that you are open for business, ready to help your clients take advantgage of this window of opportunity.
Economists know a rebound in the housing market is necessary to turn this economy around.
The public is well aware that there may be big incentives for buyers to purchase this year. The tide is turning. It's time for us to gear up for the change that is coming this Spring.
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