Real Estate Market Update - Buyer's Market
How about some bookmark love? ::
Recent doom and gloom in the media and focus on "sagging home sales" should be sending up some pretty powerful signals for buyers nationwide. (Of course what plays in the nation is either on a micro or macro scale as far as Real Estate is concerned in Orange County.)
Slower sales simply mean that sellers do not have the previous market position that they once had. Keep in mind that we're comparing this year's real estate market against last year, a.k.a. "The best year in Real Estate - Ever". Anything next to that comparison dwarfs by comparison.
This story reminded me once again, when doom is in the news, smart buyers are seeing that as great news because they know that the bad news really only applies to sellers.
Again, many sellers are looking for a magic bullet, and it is not impossible to sell in this market. It does take a motivated and correct strategy, including correct pricing, staging, buyer incentives, and high profile marketing.
Does this mean that sellers are only going to get lowball offers? Not really. It does mean that your property does have to be high quality to command the full price. Things like half-hearted upgrades are picked up right away by buyers and noted in their list of disqualifiers. Homes that are staged, and well upgraded, can command a much higher price.
For sellers who are moving into another area home that they may already have picked out, you have the best possible mix of your motivation and cooperative mindset to work with buyers.
With interested rates expected to remain largely flat, this is the market we have for the time being. When interest rates go lower, it will be like blood in the water for the shark-like sideline buyers, who are trying to time the market. The only problem is, once buyers jump into the market, it is only a short window of time where they have the upperhand in negotiating and low interest rates. The scales will very quickly tip in favor of the home sellers again.
Is it a good time to sell? Yes, but only with an expert Realtor driving the marketing and sales strategy. Is it a great time to buy? Absolutely.
Slower sales simply mean that sellers do not have the previous market position that they once had. Keep in mind that we're comparing this year's real estate market against last year, a.k.a. "The best year in Real Estate - Ever". Anything next to that comparison dwarfs by comparison.
This story reminded me once again, when doom is in the news, smart buyers are seeing that as great news because they know that the bad news really only applies to sellers.
Again, many sellers are looking for a magic bullet, and it is not impossible to sell in this market. It does take a motivated and correct strategy, including correct pricing, staging, buyer incentives, and high profile marketing.
Does this mean that sellers are only going to get lowball offers? Not really. It does mean that your property does have to be high quality to command the full price. Things like half-hearted upgrades are picked up right away by buyers and noted in their list of disqualifiers. Homes that are staged, and well upgraded, can command a much higher price.
For sellers who are moving into another area home that they may already have picked out, you have the best possible mix of your motivation and cooperative mindset to work with buyers.
With interested rates expected to remain largely flat, this is the market we have for the time being. When interest rates go lower, it will be like blood in the water for the shark-like sideline buyers, who are trying to time the market. The only problem is, once buyers jump into the market, it is only a short window of time where they have the upperhand in negotiating and low interest rates. The scales will very quickly tip in favor of the home sellers again.
Is it a good time to sell? Yes, but only with an expert Realtor driving the marketing and sales strategy. Is it a great time to buy? Absolutely.
Tags:





