St. Louis real estate in both 4th quarter of 2008 and first quarter of 2009 had been a bit sluggish. Just in the past few weeks we are seeing encouraging signs. We have been doing a lot of listing, but now our listings are starting to sell. That is what we have been waiting for!! What we don't understand is why sellers have had such a hard time selling their homes. They hire experienced professionals who tell them exactly what to do: Price it right (we even tell them what that probable price is) and great condition. We tell them how buyers are out there cherry picking the best homes and looking for the best values. We call it a "Price War and Beauty Pageant". Really! That is what is going on. If the home isn't the perceived best value, it won't sell. There are so many choices out there. Buyers can afford to be, and should be choosy.
We can speak from personal experience because we put our own home on the market in October of 2008, right as the stock market was in free fall. Everyone said we were crazy for putting our home on the market then. Would it really sell?? they wondered. We figured if we couldn't sell our own home, we were in real trouble. So, on the market it went. Granted, buyer traffic was slow as the stock market tumble had paralyzed most buyers. But after only 4 showings we received a contract offer. Not exactly the price we were looking for (after all, real estate agents are sellers too!) but it allowed us to take advantage of a sluggish real estate market and purchase a home we hadn't dreamed we could have afforded just a few years before. We listened to the advice we tell all of our sellers: It must look good, smell good and be priced right. Homes that are priced right and are in good condition have, and always will, sell. Amen, brother.
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