From Bad to Worse -- Then Comes Winter!
The market continues virtually without sales in Hidden Meadows, and even well-priced homes do not sell. Worse yet -- now comes the winter period when things always slack off.
Without question, the newer listings have recognized reality and have been more rationally priced than has previously been the case but it makes little difference because there are simply no Buyers at (almost) any price.
Our next big opportunity will be in late February, but homes listed today are flying in the face of reality.
Last week I showed 11 homes to a Virginia couple with whom I have been dealing for several years. Some of those homes were well-priced, but my Virginia couple had no need to jump -- those same homes will still be available in December when they return and they may even be reduced in price.
In effect, even Buyers who are serious do not HAVE to buy...and, in truth it is in their enlightened self-interest to wait unless they find something that is just too good to pass. Buying homes is not like buying blouses -- you can't take it back if it doesn't fit, and at a million dollars a copy the Buyer had better be ABSOLUTELY CERTAIN>
When there is pressure that someone else may take the house before you can make up your mind, that tends to focus the mind. Right now, there is no pressure to buy. None.
Without question, the newer listings have recognized reality and have been more rationally priced than has previously been the case but it makes little difference because there are simply no Buyers at (almost) any price.
Our next big opportunity will be in late February, but homes listed today are flying in the face of reality.
Last week I showed 11 homes to a Virginia couple with whom I have been dealing for several years. Some of those homes were well-priced, but my Virginia couple had no need to jump -- those same homes will still be available in December when they return and they may even be reduced in price.
In effect, even Buyers who are serious do not HAVE to buy...and, in truth it is in their enlightened self-interest to wait unless they find something that is just too good to pass. Buying homes is not like buying blouses -- you can't take it back if it doesn't fit, and at a million dollars a copy the Buyer had better be ABSOLUTELY CERTAIN>
When there is pressure that someone else may take the house before you can make up your mind, that tends to focus the mind. Right now, there is no pressure to buy. None.
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