Welcome to my ponderings….
Well it is more like it is the week after and the immediate future rather than the day after. With the amount of activity around, the days are very busy indeed. Busy Days are Happy Days…
They say make hay while the sun shines and all of that and my message this week is around buying in the current climate – while the sun is shining.
If you are looking to buy and have your eye on something, then my recommendation is to just buy.
We have had quite a few buyers recently who believe that, because of the bad publicity about the economy and the southern market creating a tsunami of events, the market is dropping here as well.
As a result, we are fielding many comments like “We will wait until the bottom of the market arrives”.
None of us know what the bottom of the market looks like until the bottom has come and gone – like anything else the results are always historic and when the curve changes it is changed.
A lot like surfing, how many times don’t you say to yourself I should have caught that one, not waited.
“They”, used to say that the second wave in a set is the best one to catch…
Hmmm, my personal experience is that the best one to catch is the one where I am in position just before it starts to break and when it is at its fullest. And I never know it was the best one until I caught it and compared to others before and after…
That is so like real estate – when you are in a position to buy and the property you are viewing ticks most if not all the boxes, then offer your best and buy. If not and you rely on what “They” say, you quite often will miss out and end up commiserating about your loss.
That is exactly what is happening out there presently and this is how the dialogue usually goes:
Buyer “I won’t go any further than $X”
Agent “Hmm based on?”
Buyer “The market – They say it is going to get worse”
Agent “Hmm based on what? Have you noticed the activity levels? Oh by the way, how many homes have you viewed and made offers on?”
Buyer “Oh I’ve seen a few and made offers on some”
Agent “The ones you made offers on, did they suit you (“Yes”) And did they sell for the price you wouldn’t pay or more” (“Usually the price I wouldn’t pay”) are you a bit sorry and fed up with it all?” (Yes)
“Well in my experience, if you continue to miss out on the ones you wanted because “They” keep telling you the market is going bad, then you will either pull out of the market place and end up buying back in when it is off and running again; Or you will buy something that just doesn’t tick many of the boxes at all, and buy anything just to get in” because you end up realising you’ve actually been losing out.
Buyer “Funny you say that because that is what has just happened with the last place we have sold – ended up we couldn’t stand it or the area and that’s why we are now once again looking”
Agent “That doesn’t make you wrong or dumb it just means you’ve been listening to the wrong “Them” instead of listening to that little voice that you know is correct – for “you”
People often ask what is happening to the market, as we have mentioned in previous ponderings, and my response then and now is if I knew that I wouldn’t be selling real estate, I’d be selling predictions and the last famous predictor is long passed over and gone. You, me and Them – we are no Nostradamus.
Please when you are buying, watch what the properties are doing, which are selling and which are not and if you can’t figure out why, ask the agent(s).
When they give you their “considered” opinion, listen. And if that matches your little voice that knows, move forward, place your best offer and secure yourself what will usually turn out to be your best gift.
And while I am at it, if those two voices, external and internal, don’t match up, when the agent calls you for feedback for your thoughts please get back to him or her. Ignoring the calls is not very nice, polite nor considerate as we agents are doing what we are ultimately being paid for – gathering current intel from the market so our clients can make some level of informed decisions about moving forward in their lives.
I must say our experience is mostly very positive. But it’s like the apple barrel, just one or two can and often do, spoil a beautiful sunny day. And as one of those agents, I thank you and your buying friends for your past endeavours and in advance for future ones.
Until Next Time, Happy Buying, Listing and Selling….
PS – This is the type of reporting coming through from South that people are getting tangled up in
Read the Article Here – Smart Money to Pounce in 2019