I remember a conversation I had with my Dad long ago when were watching TV and the news guy said we were in a recession. We had no idea that we were supposed to be feeling different till we saw it on TV!
Now what do we do??
We laughed a long time over that one!
Now why would anyone know there was a name for some situation like a recession unless it was announced that you were in one? Our lives seem to change with an announcement of how we should be or what we are supposed to be experiencing.
What if it were just another day....really that's all it is.
So today the buzz word is buyer's market.
Instead of a seller's market.
What does that mean for you?
As a seller you might wonder if your home was going to sit on the market longer that you want it to. A buyer might feel he can get a better deal or take his time looking. My investor clients are all out there right now snapping up all the great deals with cash in hand. I haven't seen much of a change of prices although houses above the $200,000 range are taking a bit longer to sell in the Central Kentucky area. It's strange how a few words can change a whole real estate market.
It has been the same here in Osceola County in Central Florida for about 6 months. However, we are seeing an improvement and even competing offers emerge again IF the house is priced correctly and within reason market expectations.
Hey Lizette! What disturbs me is the think blanket that is put on what is and what isn't. There is movement in our entry level single family market (6-8 months inventory) and our condo market is saturated with 20 months of inventory. I have to keep on top of each of these micro markets to do damage control on a daily basis. Of course the investors (sky is falling mentality) that I work with come to me with strange notions that they can get a great deal/steal. Which they can, just not at the magnitude they think they can if they are dabbling in that market that isn't quite a buyers market or sellers market!
DO I make enough sense prior to my second cup of coffee? LOL!
Renee: I only had one cup of coffee today but you make perfect sense! If properties were going to be given away we would be buying them ourselves!
Joan: I can't agree with you more...nice homes sell well in our market also. I lost out in a multiple offer situation just the other day.
Allison: Just hang in there. People will always have to live somewhere and they love to retire to Florida. It's an old love story despite hurricanes and tornadoes. Nothing like the Florida sunshine.