Hacienda Real Estate Blog

The Have s and the Have Nots
July 8th, 2010 11:09 AM

The most common question asked always...How's the market?  For those agents who started in real estate during the insane late 90's and early 2000's, it might seem as "tough" or a poor market.  From my view, it is a normal market.  Although the economy could allow for more people to become buyers, or people with a bit more confidence in the economy would allow them to enter the market as buyers or move-up buyers, there still is a healthy amount of buying activity. Interest rates are fabulous, the money is available, and there are a number of homes to choose from.  Unfortuneatly, many of these homes are not very solid pieces of real estate, or, they are priced terribly.  the results of both conditions are the same...the home sits on the market.

Buyers are back to being buyers. they take much longer to make decisions on property, they are more particular about what they buy and they will not consider property that has an element that they do not like or do not want.  When the market was insanely hot, buyers were conditioned to act impulsively, they were forced to make quick decisions and often the tactic they used was to throw a bunch of money to the seller in order to be selected as the buyer.  those days are not here, however, when real good real estate hits the market, buyers will come out of the woodwork for it and often that results in multiple offers.  that is why I have always said, "good real estate sells in any market".  If you compromised, and own a property that is not very desireable, in a poor location, or a property that contains an inherent weakness, you will likely have a difficult time selling your home.  What you buy is so important, it is for many, the most critical investment they make in their lives. That is why the advice you get, the agent you hire, is so very important. 

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Posted by Michael Miller on July 8th, 2010 11:09 AMPost a Comment

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