Sometimes I feel as if my buyers and/or sellers do not “hear” me. Okay, most of the[1] time I feel that way! They hire me to do a job, but - after speaking with their friends, with neighbors, with, who knows? they suddenly are experts at “my” job. 

In today’s market – now, especially – sellers and buyers MUST pay attention to the advice and counsel offered by their Realtors. The Realtor, after all, is the one that has the education, [2] the knowledge of the market, and the wherewith all to give that counsel and advice. “They” are the expert – generally not the home buyer nor the home seller.

I know that all of us encounter this type of issue, and these days, it is especially important for buyers and sellers to counsel with their Realtor. [3] Realtors don’t typically have a crystal ball, and cannot tell you if the market has topped out or bottomed out, but we can see what the market in your area is doing,  and we know that short sales and bank owned pretty much rule the MLS in most parts of our country.

One suggestion to sellers: if your agent suggests a listing price, staging strategies – and you really[4] want to sell your home – then seriously consider his/her suggestion. Otherwise, as the market goes down, your value goes down, and you’ll have a hard time catching up. The appraisals of your home are based on the sales of the REO’s and the short sales - AND you will have missed those potential buyers.

A suggestion to buyers: if you want to purchase a bank owned (REO) or a short-sale – BE PREPARED!!! You will more than likely be waiting for weeks, even months, for the close of escrow. There are myriad things that hang up these types of purchases. Gone, at least for the moment, are the days of: I make an offer, it gets accepted or rejected in four hours, and within a day or two, we now have opened escrow. Then, we actually close escrow and move into our new home within 30 days of the offer.

[5] That said, from what I’m seeing, and remember “I” am the Realtor, our inventory is dropping at a rapid pace. That could be because lenders have been holding back from foreclosures, but when will you find a better interest rate? When will you be able to purchase homes for 70, 80, 100, thousand dollars again? Homes ARE selling, and people ARE buying.

AND investors and cash buyers have jumped into the frey….that should definitely be an indication, perhaps, that now is  a good time to be considering a purchase of your first home!