It occurs to me as I sit at an open house yesterday that the real estate marketing might be in a dis-synchronized state. When the market is clearly set as a buyers or sellers - the expectations are known across the board. Buyers expect a bidding war in a sellers market - and sellers know they will have to price to sell, when the buyers rule.
This year, at least from where I sit - buyers have expectation of low pricing and high quality - where sellers are still dreaming of the higher resale values of the last few years. Neither market has acknowledged the true state.
The open house was at a five bedroom that showed very well. Yet buyers picked it apart even after 2 big price reductions. The blood is in the water and buyers think that another round of reductions are in order - and even then, I bet they complain. This makes for a difficult market to buy and sell. And time is running out if you want to close and get your children into a new school district.
Sellers have also told me - they don't need to sell... and buyers tell me they don't have to buy. I wonder how much inventory from this year will be made available anew next year?
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