Buying and Selling in Todays Real Estate Market
If you want to sell your property in today's real estate market, you need to price your property according to TODAY's real estate conditions. It is no longer a strong Seller's Market, it has switched to a Buyer's Market. For years, we could list a property and feel comfortable with offers close to the asking price, right at the asking price, and sometimes even above the asking price. Those multiple contract days are gone.
We need to look at the positive side to this changing market. 24 - 36 months ago, a Seller could list his or her property at the high and most likely get it. Yes, you got your asking price, and you were very happy. But, when you SOLD, did you buy another property? If so, you most likely paid close to the asking price, maybe the asking price, or possibly even above the asking price. So what did you gain? In today's market, yes, you may have to adjust your price and profit, but when you purchase your new property, you can negotiate and take advantage of the great buying opportunities out there today. When we look at the whole picture, the market has NOT dropped here in Marion County, it has stabalized. We are not seeing the quick, and high appreciation values that we realized for the past few years. There are buying opportunities out there today, take advantage of them. The market will climb again!
Buying for investment? Look at your real estate investment as a long-term investment(2 years or more). You may be suprised in 2- 5 years, and wish you took advantage of the buying opportunies that we are seeing in today's market. Marion County and surrounding areas are growing immensely with new homes and businesses. Marion County is still one of the least expensive places to live, and invest. Think if you would of bought property here in Marion County 10 years ago? 10 years goes by pretty fast, as we have all noticed. I wish I would of invested here 10 years ago. Well, most likely we will be saying the same thing 10 years from now. Enjoy the changing market, be realistic, and talk to your agent for additional advise.
Susan Ledbetter - Meadows Realty, Inc.
September 2006
