June 26, 2007 by gp.

With all the press about the woeful real estate market, no matter where you are you are wondering “should I wait”, whether a buyer or seller be.   Without question most areas of the country that experienced unreal run ups in pricing over the last few years can stand to have some moderation in the market.  And lenders are doing right by doing right, that is making the requirements more realistic in order to get that loan.
However, too much of anything is usually not a good thing, and this goes for negative press as it relates to the housing market.  As previously mentioned, buyers are waiting on the sidelines to see what sellers are going to do.  Buyers do not want to buy when prices are coming down.  They would rather wait until they feel prices are at or near their greatest value proposition before pulling the trigger.  Seller mentality can and still seems to be, although less and less as time goes on, that they will wait for things to stabilize and firm up and “wait it out”.  I’m sure most markets, and Realtors® in those markets are seeing an increased frequency of price reductions as sellers begin the process of showing higher levels of motivation.  While builders continue to offer incentives such as pools, upgraded appliances, flooring etc., most buyers I think would rather see a reduction in price.
Please read the following article on negative press, and contact me with any questions or if I can be of service. Thanks, GP

Negative
Media Stories Can Damage Real Estate Market - Many real estate
professionals insist a lot of negative publicity about the housing
market can have an effect on whether consumers will buy, sell or sit.

Posted in Uncategorized | Comments Off

June 13, 2007 by gp.

While the market continues to show sluggishness on St. Simons, less so in Brunswick, there are signs that things may be starting to turn, ever so slightly.  Brunswick activity has continued to out pace island activity, it would appear from a pricing perspective.  There are new developments going up touting “Only 20 minutes from the beach…”  On St. Simons, the upper end of the market continues to show more consistent activity than the rest of the market, although there seems to be the beginnings of an upswing in the lower echelons of the market.  We will see.  Bottom line, the market in the coastal area continues to be awash in opportunities for buyers.  Most people who have their homes on the market would obviously like to sell, but do not have to.  So while there is an abundance of choices for todays buyer, prices for the most part are remaining fairly firm.  There are some instances of price drops which is indicating an increased level of desire and reality on the part of sellers, but all in all it feels like buyers are waiting to see what sellers will do, and sellers are holding tight, waiting for the market to turn.  So plenty of choice but not much break on the price.
Please call or email me if I can help you with your coastal Georgia and northeast Florida real estate needs. Thanks

Powered by ScribeFire.

Posted in Uncategorized | Comments Off