Doesn't it feel like we work much harder these days to satisfy our buyers? Does it seem as if they have a sense of entitlement because it is a "buyer's" market? Just 18 months ago the shoe was definitely on the other foot. Now buyers have so many homes from which to choose that they just look and look and look, and then many decide to rent for awhile, or wait for awhile, or...???? I have several in the pipeline that will "eventually" purchase a home, but they're waiting for one reason or another. They have the comfort of knowing that even if the home they prefer isn't on the market in a month or two another one will be.
In Mesa and Queen Creek, Arizona, there are myriad builders (as there are across the entire Phoenix Valley) that will offer incredible $10,000+ incentives if buyers buy their home. That said, many of the builders are no longer buildilng inventory/spec homes for that quick sale. That's a good thing. Then buyers can buy one of those owner-occupied homes that have never been lived in. Imagine this. Three homes in the same community owned by the same owner occupant. That's part of what has messed up our real estate market. Many questionable ethics of? who knows?
Okay, now about the sellers. They want that same 50% appreciation on their homes that sellers were getting in 2005 despite homes plumeting to 2004 prices and inventory climbing. 2004 is when the home buying anomaly in Phoenix Valley hit the fan. The sellers consistently want to "start higher" just in case and then bit by bit sellers reduce until the home finally reaches its true market value.
As I was driving around showing a client new homes in Queen Creek, I just couldn't help but think: I'm working harder and making less. How could that be? Just some random thoughts I was having. It's all good. We'll be back to where we should be by the end of this year - selling those listings, finding that perfect home for our buyers, and who knows? Might even have time to take a vacation!
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Teri: It's quite the same here in the Dallas area. We have too many houses and buyers - even when they put in offers, come in at a ridiculously low offer - and just planning to move on to the next until they find that desperate Seller.....
Teri,
It's good to be the first born, second spouse, and third Realtor...
And yes, there are still a few sellers who seem to have their calender set for 2005. 'Taint gonna work! And the corruption in the county records system is beyond the pale. These folks are trying to slide one by... I say either Play by the Rules, or Change the Rules...
Question - (with no scorecards)... Would you turn in someone you knew to be breaking that owner-occupied rule? How about Realtors engaging in cash-back scams? Food for thought...
Teri, I wholeheartedly agree. Seems to me that working harder (and smarter) is the key in this new market. Everyone's expectations remain high, sometimes unrealistically, but we trudge onward! I keep thinking that when the market changes I will have learned something from these days!
I guess all you can really do for now is wait it out and keep your head up eh?
I feel like a car with the pedal to the metal and the tires just keep spinning but I ain't going nowhere sometimes...
It's painful sunshine...
But somedays your whells get traction and man...
It's a beautiful ride!
Teri You said, Three homes in the same community owned by the same owner occupant. Wow, you folks have some really large families there in the valley, huh? :)
It is good to see you being able to work through your feelings with words and coming to the conclusion -- We'll be back to where we should be by the end of this year - selling those listings, finding that perfect home for our buyers
Teri - nice post.....good reading. thanks and have a wonderful day ;) ron
Alas, its the nature of the beast! Things were completely the opposite about 2 years ago, weren't they :) We work on commission, our pay will go up, sometimes it'll go down unfortunately!