For Steve Harney who visited his subscribers this week the point that resonated with me the most was this! For those that feel sometimes that you are talking out of both sides of their mouth. Lets again put it in perspective. If rates go up ¼ of a percent that is equivalent to a price reduction of 2.5%
Yes.... Prices are coming down every day (but if they are still coming down... why is now is the best time to buy?) he said for Sellers it is all about price and Buyers it is all about Cost. Yes (BUYER)if I wait I may be able to get it at a better price but the Costs may out way the wait. To a seller everyday you hold your home is losing value right now...yes what you want or need to buy is coming down also but what about the cost of waiting. Look what rates did this week!!!!!
Sellers will make the decision to take the home off the market for a few years or they may decide to play in the current environment. I need to play with the folks that (after presenting all the facts) want to play to win and have the equity to play. The alternative is to get them off the field and get the stale wishful thinkers off the inventory lists. Those properties which are dragging us down. What our clients read about national sales and price numbers up is just that..national. Florida. California and Vegas have nowhere to go but up. We are on the down side of the equation not the up.
Waiting just is not a good plan.
