Sorry I’ve Been Away…It’s Busy Out There!

I don’t know about every REALTOR out there, but I have been busy. And the more I’m in the market the more I keep realizing how basic this all is.

There are still about 9.5 homes for sale for every one that sells. Now think about that. If you are a Seller, you better price your home correctly if you are going to sell it. By correctly I mean that if the condition is rotten you are not going to get top price. If it is in excellent condition do not lose perspective as to what your home will bring. Just because it’s nice doesn’t mean it’s as large as the one down the street.

If you are a Buyer, you are going to like this market. But it isn’t quite like Buyer’s markets I’ve experienced before. Sellers are being a little “pie in the sky”. If they are backed against a wall they will really move on the price. But because so many Sellers have refinanced their homes, and then refinanced again (how do you like those vacations/SUV’s now?) they are locked into the price they are asking or they’ll have to bring money to the table.

What Buyers are able to do now is pick and choose. Make a fair offer on this place and if they don’t like it, go to the next one. If they are offended, they’ll move on again. Again, I’m not seeing huge price reductions. But I am seeing Buyers cherry pick. And that is definitely to the Buyer’s advantage.