"Rick what is with these people? Prices are ridiculous, when will the market change?"
WHEN YOU CHANGE IT!!
We need to act and react together as buyers, investors, and Realtors. We CAN make a difference it we all get on the same page. Why are inventory levels so high? Because sellers are asking astronomical amounts for their homes and NO ONE will pay them!! So how can we reset the market?
By making low ball offers day in and day out and by doing so teaching sellers that we are not in a peak market any longer.
By getting REAL!!
We need to act and react together as buyers, investors, and Realtors. We CAN make a difference it we all get on the same page. Why are inventory levels so high? Because sellers are asking astronomical amounts for their homes and NO ONE will pay them!! So how can we reset the market?
By making low ball offers day in and day out and by doing so teaching sellers that we are not in a peak market any longer.
By getting REAL!!
This market will not reset itself
Things will not automatically get better
Prices WILL NOT BE what they were three years ago....
SELLERS LISTEN UP!!!
Things will not automatically get better
Prices WILL NOT BE what they were three years ago....
SELLERS LISTEN UP!!!
THE MARKET SETS THE PRICE, NOT YOU!!!
How much is a home worth? Whatever someone is willing to pay for it - plain and simple.
We are currently inundated with unrealistic sellers asking far to much for much to little. If you own a stock and it goes down, do you try to sell for what is was selling for at its peak? Of course not. When the price of gas goes up, do you offer the attendant .50 cents less a gallon because that's what the prices once were? Of course not!! Then why......why do you continue to ask for an '05 sales price in an '08 market?
Because no one is offering less!!
"What are you talking about Rick, do you feel ok today?"
What I mean is that these sellers are listed at and asking these crazy prices because no one is showing solid proof of a market change. Realtors are not being honest with them for fear of a seller getting mad at them and giving the listing to someone else and buyers don't want to offer less and feel "stupid".
If we want to see a change we need to make that change happen by banding together and resetting the market. We are the only ones capable of making a change. If a seller consistently gets offers 25% below his asking price what do you think they will do? Common sense tells you exactly what they will do....they will lower their price and finally accept less....if they accept less then what?......the neighbor will drop their price and also accept less.....then what?.......
INVENTORY LEVELS WILL DROP AND THE MARKET WILL RESET!!
We need to educate the sellers by offering less and purchasing for less. We educated them three years ago by offering more and purchasing for more didn't we? We taught them that they could get more then they wanted then, its time to teach them that times have changed!!
DON'T BE SCARED TO MAKE LOW BALL OFFERS!!! IT IS THE ONLY WAY THIS MARKET WILL CHANGE.......
Now if we can only get gas prices down! ;)
- Rick
rick@rickrapp.com
We are currently inundated with unrealistic sellers asking far to much for much to little. If you own a stock and it goes down, do you try to sell for what is was selling for at its peak? Of course not. When the price of gas goes up, do you offer the attendant .50 cents less a gallon because that's what the prices once were? Of course not!! Then why......why do you continue to ask for an '05 sales price in an '08 market?
Because no one is offering less!!
"What are you talking about Rick, do you feel ok today?"
What I mean is that these sellers are listed at and asking these crazy prices because no one is showing solid proof of a market change. Realtors are not being honest with them for fear of a seller getting mad at them and giving the listing to someone else and buyers don't want to offer less and feel "stupid".
People it's "stupid" not to offer less!
If we want to see a change we need to make that change happen by banding together and resetting the market. We are the only ones capable of making a change. If a seller consistently gets offers 25% below his asking price what do you think they will do? Common sense tells you exactly what they will do....they will lower their price and finally accept less....if they accept less then what?......the neighbor will drop their price and also accept less.....then what?.......
INVENTORY LEVELS WILL DROP AND THE MARKET WILL RESET!!
We need to educate the sellers by offering less and purchasing for less. We educated them three years ago by offering more and purchasing for more didn't we? We taught them that they could get more then they wanted then, its time to teach them that times have changed!!
DON'T BE SCARED TO MAKE LOW BALL OFFERS!!! IT IS THE ONLY WAY THIS MARKET WILL CHANGE.......
Now if we can only get gas prices down! ;)
- Rick
rick@rickrapp.com
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