1. Realize that Sellers Shouldn't Wait Until the Spring
Over the last thirty years, many sellers have waited until the spring to sell their homes. The logic was that demand for homes increased in the spring and therefore you may get a better price for your home. Demand will increase again this year.
However, we must let the sellers know the big difference is that supply will also increase as hefty inventories of distressed properties find their way to the market. Most experts feel that this increase in discounted properties will be greater than any increase in demand thus putting additional downward pressure on prices. For more on this, read: House Prices: Where Will They Be in the Spring.
2. Understand That Doesn't Mean You Shouldn't Buy Now
Even though prices will soften, that doesn't mean buyers shouldn't buy now. Remember, the seller needs to be concerned about PRICE; the buyer should be concerned about COST. The additional costs in obtaining a mortgage in the future may far outweigh any depreciation in value. The buyer may not believe you on this issue so be prepared to quote third party sources outside the real estate industry. Here are four resources:
Forbes Magazine: The Next Mortgage Crisis
Wall Street Journal: It's Time to Buy That House
MarketWatch.com: Now Might Be the Best Time Ever to Buy a Home
Insights: Housing: A Time To Buy
a.) They want to sell their house.
b.) Their preference is to use a real estate professional.
c.) They need our help.
these families after the 1st of the year and offer our assistance.
(Disclaimer: Neither KCM nor anyone associated with KCM
receives any remuneration for this recommendation. We just believe it is a
great lead generation service for agents.)
There were times all the kids thought my father was too tough on us. He refused to listen to what he called 'bellyaching'. If you fell and got hurt, he would check to make sure you weren't injured and then bellow "Get up!" If you were 'sulking' about something that didn't go your way, he would yell "Get over it." There were times you thought you needed a hug and instead he'd give you a metaphoric kick-in-the-butt.
We realized as we got older that those instances didn't prove that he didn't love us. They actually were proof he did!
- Steve Harney
1. The PRICE is the Same, But the COST is Less