Slowing down!
Written by John on October 11th, 2009. Filed under Uncategorized and tagged with , buyers, first time, First Time Buyer, home, homeowner, house, taxcredit.As we approach the Holidays and Winter months, are we going to see a slowing down of sorts? I would say so, the first time homebuyers credit deadline is November 30, 2009, which means that all first time home buyers or buyers not owning anything within the last 3 years are eligible to get the $8000.00. The idea behind the push was to create a domino effect, the first timers purchase, then the sellers move up in price on a new house and so on.. I don’t think that has happened as often as some might think. We need this credit to continue through spring. Its keeping an energy about the market and helping first time buyers jump into the pool of home ownership. I would be surprised if the credit wasn’t extended! We will see. Prices are starting to get lower, but I don’t know when we will get to the bottom, simply because its dictated by motivated sellers and sellers are very motivated. The problem is getting buyers, not first timers, to make a decision. Its hard to know whether you are getting a good deal or if the prices will fall more? I think we are close and now is the time if you want to buy. The spring market should be better and things will hopefully heat up, especially coupled with an extended taxpayer credit??
Are we trained?
Written by John on April 19th, 2009. Filed under Uncategorized and tagged with buyer, buyers, house, listings, market, pricing, realtor, sell, sellers, upgrades.Has the market hit the bottom or are prices still too high? I show houses each day to buyers and I sometimes leave a listing thinking the price should be less? Our minds are now trained to only purchase an item at a discount, which fuels decreased house prices and lower offers. Yes there are some houses priced right and those usually sell quickly, unless they have some single reason or issue. For example settlement issues, bad floor plan, not updated, too much work, etc.. The houses on the market that are stuck in the 60’s, 70’s & 80’s often have longer market times. You know the ones, bright pastel paint, wall to ceiling mirrors, old formica tops, pink ceramic tile and cream paint. Not to say that having those features is a bad thing, its just the way we think? Again, something as simple as new carpet, trim and wall paint, solid surface counter-tops or new appliances take away from the purchase. We want instant information, cell phones, texting and now upgrades. Lets face it, each seller is in a different situation. Its often too expensive or too much to handle to make the updates. For whatever reason, they make a difference. Staging, updating, paint and minor improvements make a house sell. We are now trained, especially my generation (35) and below, to only see the upgrades. We assume all houses should have granite, stainless, wainscoting, deck, master baths, flat screens, etc.. whatever it is that floats your boat. If they don’t, then how can we get them: decrease the price at contract or make the seller pay for them? Hopefully the market being slow will create a surplus of great & updated homes. Who knows, but when a buyer walks in your house, assume they are trained.