Market directed changes in attitude.

By
Real Estate Agent with Better Homes and Gardens Real Estate Metro Brokers

Newnan Homes for SaleAs inventory declines, and sales prices moderate, the attitudes of both buyers and sellers must adapt to the marketplace.

There are few “good” properties available, and they vanish in a day or two. Buyers no longer have the luxury of agonizing over a purchase decision for a week or more.

And with multiple offers, sellers no longer have to cave to ever demand instigated by a would-be purchaser.

Location, price and condition are still the three dominant attributes that attract buyers. If you’re three for three in that department, you will immediately have multiple offers. If you’re two for three, you will have showings and if you’re one for three it had better be price!

The market has spoken.

Are you listening?

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Topic:
ActiveRain Community
Location:
Georgia Coweta County Newnan
Groups:
"Whacked"!!!
Diary of a Realtor
The Lounge at Active Rain
Realtors®
BananaTude
Tags:
real estate attitudes
real estate market

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Rainmaker
1,202,592
Richie Alan Naggar Author PEARLS SERIES of books
on LIFE and LOVE plus Real Estate too!
People first then business! Ran Right Realty Riverside, Ca

Real Estate changes are like the currents at sea...catch them or you drift..you just sit and go nowhere

September 19, 2012 06:57 AM
Rainmaker
103,404
Rhonda Duffy
#6 Ranked Agent in the U.S. for SOLD Properties
Duffy Realty of Atlanta & Rainmaker Realty

Excellent post- great reminder to always keep listening. Thanks for the post.

September 19, 2012 07:08 AM
Rainmaker
545,869
Gary Frimann
California Broker and REALTOR
Eagle Ridge Realty / Signature Homes & Estates

Great post-- the supply of apprehension and cynacism has been replaced by the demand for a sense of urgency and action.

September 19, 2012 07:50 AM
Rainmaker
570,044
Bill Gillhespy
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos
16 Sunview Blvd

Hi Richard,   Well said.  Our bottom end inventory is drying up and buyers seem shocked to hear that the market is trying to show some price support.

September 19, 2012 08:17 AM
Rainmaker
656,727
Eileen Hsu
LICENSED REAL ESTATE SALESPERSON
Douglas Elliman Real Estate

I see this attitude adjustment all the time, people not believing that multiple offers coming in, dozens and dozens of people at the first open house.  It takes losing out on a few nice properties before the new attitude takes hold.

 

September 19, 2012 08:29 AM
Rainmaker
348,034
Debbie Cook
Silver Spring and Takoma Park Maryland Real Estate
Long & Foster Real Estate, Inc

Richard,
You are spot on with this.  When you try to explain this to buyers they are surprised and have to learn the hard way that it's the truth of the market right now! 

September 19, 2012 08:31 AM
Rainmaker
358,969
Bob Jakowinicz
734-578-6561 - Michigan Real Estate Agent
National Realty Centers Livonia--Bob Jakowinicz

We definately seeing the same market shift here. Now, we must train our buyers and sellers!

September 19, 2012 09:00 AM
Rainmaker
273,333
Carol-Ann Palmieri
"Cal" the Real Estate Gal
RE/MAX Executive Realty, Al and Cal Realty Group

Hi Richard.   Sometimes it takes awhile for buyers to understand that there is a shift.  

September 19, 2012 09:29 AM
Ambassador
785,262
Charlie Ragonesi
Homes - Big Canoe, Jasper, North Georgia Pros
AllMountainRealty.com

yes Richard let us hope the trend continues and we reach some point of equilibrium

September 19, 2012 12:31 PM
Ambassador
1,082,680
Bryan Robertson
Broker, Author, Speaker
Catarra Real Estate, Inc

I like the shift in the market although it's a bit too biased in favor of sellers in our area.  It's nice to see that buyers in particular don't have forever to make up their minds.  A little pressure is a good thing.

September 19, 2012 01:02 PM
Rainmaker
538,048
Ginger Harper
Your Southport~Oak Island Agent!
Coldwell Banker Sea Coast Advantage

Go ahead and Do it..

 

September 19, 2012 01:03 PM
Rainmaker
1,733,311
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.
WHISPERING PINES REALTY

Real Estate is LOCAL.  My home town things are selling fast.  10 miles away, there is a glut of homes.

September 19, 2012 02:31 PM
Ambassador
1,227,260
Erica Ramus
MRE, Schuylkill County PA Real Estate
Erica Ramus - Ramus Realty Group - Pottsville, PA

Love your list of location, price & condition! 

September 19, 2012 02:41 PM
Rainmaker
647,360
Evelyn Kennedy
Alameda, Real Estate, Alameda, CA
Gallagher & Lindsey, Alameda, California

Richard:

Oh yes, the market has surely changed.  Buyers need to realize that it is now a seller's market.  No more low ball offers and no more demanding conditions. 

September 19, 2012 03:52 PM
Rainmaker
204,179
Peggy Wester
Real Estate Agent Ozaukee & Washington County Real
Think Young Team--Realty Executives Integrity

So, so true. Have had a couple buyers recently lose out on a house or two because they waited to make a decision. The market is definitely changing!!

September 19, 2012 04:56 PM
Rainmaker
385,925
Kevin Mackessy
Dedicated. Qualified. Local.
Blue Olive Properties, LLC

A very welcome change for sellers.  Here's to hoping the market bounces all the way back.

September 19, 2012 05:25 PM
Ambassador
1,550,626
Christine Donovan
Broker/Attorney 800-610-7253 DRE01267479 - Costa M
Donovan Blatt Realty
Richard - The market has certainly spoken, and succesful buyers and sellers are listening.
September 19, 2012 10:40 PM
Ambassador
981,145
Debbie Reynolds
Your Dedicated Clarksville TN Real Estate Agent
Prudential PenFed Realty, "The Real Debbie Reynolds" Your Clarksville Real Estate Professional, 931-920-6730

Richard, Some markets are getting scarce. Others are not. Location. location, location.

September 20, 2012 04:46 AM
Rainmaker
70,132
Wayne Bennett
Short Sale & Foreclosure Resource - Charlotte
Remax Executive/Charlotte,NC 704-293-3931

Richard...couldn't have said it better myself, Price, Location, and Condition.   I find myself in multiple offer sitautions daily, inventory shrinking, new home building on the rebound, not as many foreclosures.  Although market conditons are local, all indications are pointing to an even better '13...

September 20, 2012 06:52 AM
Rainmaker
538,048
Ginger Harper
Your Southport~Oak Island Agent!
Coldwell Banker Sea Coast Advantage

Location, location, location. It still tops here...price then condition next.

September 20, 2012 08:18 AM
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1,645,565

Richard Weisser

Richard Weisser Coweta Newnan Homes for Sale
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