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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Rainmaker
1,342,409
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

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

Sep 19, 2012 06:57 AM #8
Rainmaker
104,416
Rhonda Duffy
Duffy Realty of Atlanta & Rainmaker Realty - Milton, GA
#1 Retail Listing Agent in the U.S.

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

Sep 19, 2012 07:08 AM #9
Rainmaker
564,731
Gary Frimann
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
California Broker and REALTOR

Great post-- the supply of apprehension and cynacism has been replaced by the demand for a sense of urgency and action.

Sep 19, 2012 07:50 AM #10
Rainmaker
570,048
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

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.

Sep 19, 2012 08:17 AM #11
Rainmaker
662,854
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

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.

 

Sep 19, 2012 08:29 AM #12
Rainmaker
355,324
Debbie Cook
Long & Foster Real Estate, Inc - Silver Spring, MD
Silver Spring and Takoma Park Maryland Real Estate

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! 

Sep 19, 2012 08:31 AM #13
Rainmaker
374,040
Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
734-578-6561 - Michigan Real Estate Agent

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

Sep 19, 2012 09:00 AM #14
Rainmaker
277,932
Carol-Ann Palmieri
RE/MAX Executive Realty, Al and Cal Realty Group - Franklin, MA
"Cal" the Real Estate Gal

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

Sep 19, 2012 09:29 AM #15
Ambassador
791,044
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

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

Sep 19, 2012 12:31 PM #16
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Bryan Robertson
Catarra Real Estate, Inc - Los Altos, CA
Broker, Author, Speaker

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.

Sep 19, 2012 01:02 PM #17
Rainmaker
546,046
Ginger Harper
Coldwell Banker Sea Coast Advantage - Southport, NC
Your Southport~Oak Island Agent!

Go ahead and Do it..

 

Sep 19, 2012 01:03 PM #18
Rainmaker
1,808,458
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

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

Sep 19, 2012 02:31 PM #19
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Erica Ramus
Erica Ramus - Ramus Realty Group - Pottsville, PA - Pottsville, PA
MRE, Schuylkill County PA Real Estate

Love your list of location, price & condition! 

Sep 19, 2012 02:41 PM #20
Rainmaker
668,150
Evelyn Kennedy
Gallagher & Lindsey, Alameda, California - Alameda, CA
Alameda, Real Estate, Alameda, CA

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. 

Sep 19, 2012 03:52 PM #21
Rainmaker
205,994
Peggy Wester
Realty Executives Integrity - Grafton, WI
Real Estate Agent Ozaukee & Washington County Real

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!!

Sep 19, 2012 04:56 PM #22
Rainmaker
449,551
Kevin Mackessy
Blue Olive Properties, LLC - Highlands Ranch, CO
Dedicated. Qualified. Local.

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

Sep 19, 2012 05:25 PM #23
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Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 800-610-7253 DRE01267479 - Costa M
Richard - The market has certainly spoken, and succesful buyers and sellers are listening.
Sep 19, 2012 10:40 PM #24
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Debbie Reynolds
Prudential PenFed Realty, "The Real Debbie Reynolds" Your Clarksville Real Estate Professional, 931-920-6730 - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

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

Sep 20, 2012 04:46 AM #25
Rainmaker
76,932
Wayne Bennett
Remax Executive/Charlotte,NC 704-293-3931 - Charlotte, NC
Short Sale & Foreclosure Resource - Charlotte

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...

Sep 20, 2012 06:52 AM #26
Rainmaker
546,046
Ginger Harper
Coldwell Banker Sea Coast Advantage - Southport, NC
Your Southport~Oak Island Agent!

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

Sep 20, 2012 08:18 AM #27
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Richard Weisser Coweta Newnan Homes for Sale
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