So I will continue to apologize for the lack of updates. We are about back in full business again on the website. It has been quite a change but I am getting excited about the changes happening. Also, thankfully…real estate has finally been picking up again for me.

Today I stopped in to the NWMLS store to purchase a “price reduced” sign. I was having fun with the lady ringing up my purchase and said “I am here to purchase your most popular sign in this market.” It was her response back that really floored me the most. It was one of the most profound and actually true statements I had hear…she said, “Isn’t it funny how all the buyers seem to watch the media too much but the sellers aren’t watching it enough.” This was such a great way to put the current market situation.

There are tons of skeptical, slow buyers in the market right now. I had a listing that just recently got three offers on it…but, it had been on the market for 51 days before these offers came in. A buyer who would have placed the offer just a week or two earlier may have gotten a better deal than what occurred. However…buyers can sometimes wait too long and not purchase when they find the opportunity for the best deal possible.

On the other hand…it is still hard for sellers to get it through their heads that to successfully sell their homes they may have to actually list a little lower than comparable homes have recently sold for. Seller’s no longer make the rules and the media and numbers reaffirm that…but it is hard for a seller to give up that control because of their emotional investment into their home.

Ultimately, the media can be very frustrating for us as agents because it paints such a broad and poor picture of the market…but we must face that people will be affected and watching it. However, it is important to still look at the local market and not let a media report sway your whole opinion. We have a relatively strong market but you as a buyer and seller must have proper expectations going in.

Anyways, I promise I will try to blog a little more consistently in the future…so don’t give up on me!

Have a great rest of your day!

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This entry was posted on Thursday, April 24th, 2008 at 5:01 pm and is filed under Market Conditions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.