Things to Remember in a Buyer's Market

Given the current uncertainties in the financial market, the best advice that I can give you is to be as patient as you can. This real estate market is very, very slow. Trust that we are doing everything that we can to sell your property: we are still in our office 7 days per week; we still advertise in both the local and distant markets; we do everything that we can to follow up on leads and to stimulate interest in the Cove.

If you are selling a lot: There is alot of competition in the lot market right now, however there are a couple of things that you can do to make your lot stand out. Firstly, make sure that your lot is looking as good as possible; if it has been awhile since you have cut back the brush, it's probably time to do it again. Give us a call and we can put you in touch with some of the local guys & gals that can help you with this. Secondly, remember that the days of huge profits are past and be reasonable with your pricing. The Buyers that are out and about right now are market savvy; they are looking for good deals on exceptional property. So, if there is any wiggle room in your price, move it down a bit. Be as competitive as you possibly can.

If you are selling a house: Again, there is alot of competition, so you need to do whatever you can to make your property stand out. Make sure that it is priced competitively; make sure that the lawn and home are tidy; don't defer your maintenance as you wait to sell. What I said for lot owners holds true for you, as well: The Buyers that are out and about right now are market savvy; they are looking for good deals on exceptional property. So, if there is any wiggle room in your price, move it down a bit. Be as competitive as you possibly can.

Finally, remember that the Buyer's Market may mean that an offer comes in much lower than you expected. Don't be dismayed at the offer, rather feel good that someone is interested. Remember that with their offer, they are just starting a conversation. Don't get angry and cut them off; instead, respond with a counter. We make sales when we can move the "conversation" to a point at which both parties feel comfortable.

Patience is certainly the virtue that is needed in this tight market.

Please call if you have any other questions! I always love to hear from you.

Julia