It seems like we’ve got a reprieve for these exhausted, strung-out buyers who have worked really hard for very little over the last couple of years. It’s a time where things are slowing down. It’s a little more contemplative. The interest rates are holding, knock on wood. And things are just giving and offering the time the buyer’s need to make good decisions.
Featuring:
Bob Nelson, Eugene real estate investment broker
Marcia Edwards, Eugene residential real estate broker
Bob Nelson: Well, it was interesting because those that have thought in terms of selling are making their moves. Interest rates are a beautiful situation, so if you’re selling to facilitate your opportunity to buy, this is a great time to do that. Now, as that happens, that means the buyers typically have more choices to select from, which is beneficial across the board. The seller is winning, the buyer is winning. so long as the seller does the right thing.
Marcia Edwards: That’s right. So what’s happened is, it hasn’t been an influx of inventory, but it has been a calming of the sales side. The demand side. So what we see is a market of about two and a half months of inventory versus what we’ve been seeing was less than two month’s inventory. It’s not a soft market. It’s still a seller’s market. But it’s not a mock 10 with your hair on fire kind of situation. It’s a situation where buyers are saying that’s a good opportunity, is it that good? And they’re thinking it through before they jump.
Bob Nelson: Well, so how do I protect myself as a seller? How do I stay attractive?
Marcia Edwards: Well, you’ve got to listen to the counsel in pricing, I think. You’ve got to make sure you’re not shooting the moon, because if you shoot the moon, everyone will fly under you and buy the other properties and opportunities, and you’ll miss the strongest, most capable buyer when you adjust to what the market’s telling you too late.
Bob Nelson: Well, any time you come on the market with an asset to be sold, there’s a pent up demand of people who haven’t found what they’re looking for. It’s not like they’ve decided yesterday and so they’re in the market today. There’s a number of people that just simply haven’t found it, and if something comes flashing in front of them, and they’ve got access, certainly to a computer to see the inventory as it comes out, they have a chance to chew on that. More people that moment in time than any other time that you’re going to be marketing the property.
Marcia Edwards: Exactly, and that’s another reason to be in tune to condition. Don’t tell me that you’re going to just not change the dated carpet because you want the buyer to be able to choose the color. That won’t work. The buyer will never come into the home, because they don’t want a fixer upper that they saw in line with the dated carpet. You’ve got to have your game on, and bring your property to the marketplace ready.
Join Eugene, Oregon, real estate experts: Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments, and Marcia Edwards, Residential Real Estate Broker with Windermere Real Estate, daily at 5:30 on KPNW for the “Real Estate Today” radio show.
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