Thursday, February 25, 2016
PREPARE YOURSELF FOR THE BOOMERANG BUYER...WHY LISTING NOW MAKES SENSE
It is a mystery to those of us who have our career
and education in the real estate market, as to why there has always seemed to
be a "spring selling season."
Anytime of the year truly represents its own challenges and rewards and
it may be that no time is better or worse than any other. For example, yes the holidays due slow
down, but homes show the best when
dressed for Christmas and buyers who are in the market during that time are
deadly serious about finding a home and likely to pay top dollar. So now we find ourselves with sellers
getting ready to go on the market; wanting to wait for the "spring season". That could cost you money, because
everyone is doing the same thing.
The result? The market goes
from (national numbers) 1,860,000 homes for sale -- to 2,280,000. What does it mean? You have more competition. You have fewer offers. Buyers have more choices. Not necessarily the best scenario for a
seller. If you need to sell... why
wait. List now before your competition
does. And you needn't worry about
buyers, at least probably not this year.
According to NAR, 1.5 million "boomerang buyers" are
re-entering the market, having now recovered their credit from their previous
foreclosures and/or bankruptcy.
Add in the millenials setting up their households and aging baby boomers
who decided to work 5 more years, and now 5 years is up and they are retiring, you have an interesting mix for
our upcoming spring/summer markets.
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