What are Buyers and Sellers Telling Us...
Just an observation…
What we are seeing locally is a shift in consumer confidence as it pertains to the Real Estate market on the Cape. In looking back, we have discussed the financial impact on the local market based on the action and fallout from the financial sector. We have weathered storms, adjusted our thinking, and tried to redefine how we deal with all the changes. In moving forward, people have decided to shift the stress of this behind them rather than letting it remain as the main emphasis in our everyday thinking.
What I am hearing from both the selling and buying sides of customers is an increased confidence that the worst is behind us, and it’s time to move on with our lives. So many of my clients have commented to me they have had their lives in a holding pattern, and have decided its time to shed the pressures and stress. This stress has been significant, and people know the toll it has taken both emotionally and physically – it is time for a cleansing process to begin.
Sellers are sharing that they felt frozen in a specific state of mind, and it was blocking their ability to plan on the future. They want to move into the next journey of their life, and get on with changes they have been thinking about for the past few years. There is a realization that enough is enough, and the price reductions they are entertaining or putting into place are coming at the correct time – in 2011 the final sale price was only 10% off of the listing price as opposed to 15% in 2010, but sellers have to have their home at that right price to bring in the offers.
Buyers are now coming forward and acting with confidence… they understand prices have adjusted, especially when dealing with properties on the Outer Cape. Old school buyers who have been sitting with their watch-list properties are seeing other savvy buyers taking them right out from under their nose as they sit on the side lines with ‘analysis paralysis’. My buyers tell me they want to move on with their lives…with historically low interest rates it's not important they wait for something on their watch-list to come down $10,000. They too are tired of the holding pattern – their life balance is more important than sitting on the sidelines watching the game being enjoyed by others.
If you or a friend are ready to take those necessary next steps, I look forward to working with you!
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