What's going on in the market??

That is a question I get a lot. There are so many young buyers in the market now but they are very savvy and the web has become an important tool in their search. I am a homeowner as well so I am not thrilled with the downturn but it does have several benefits. Young people no longer have to leave their families to move to locations that are more affordable. We had a tremendous Brain Drain here on Long Island during the height of the market. There is something so wrong about going to college, doing all the right things and not being able to buy a home and being stuck in some basement apartment. So-- they left...in droves.



I have had a lot of closings lately and most of the buyers are young couples starting out and it is sooo exciting! For the first time in a long time it is achievable. Lower prices,lower interest rates and that great tax credit has created the trifecta of perfection for first time buyers. I know it is a bitter pill for sellers, especially those that bought at the height but none of us had a crystal ball to see where the market would go.The good news is, if you price your home right, it will sell and it will sell in a decent time frame.



My advice to sellers--

Hire a good agent, not one that will lie to you to get the listing. " Oh yeah Mr./ Mrs. seller.... I can get you that price just sign with me!" It's called buying a listing. I have been asked why I am doing so well in this challenging market, and my answer is, I tell the truth. I have lost listings over it, I have had sellers upset with me and I am ok with that because if it's not priced where it should be, it's not a real listing. Make sure the agent Cares-- I mean really cares. This is very important, they have to have heart! The last and final piece of advice I have for you is price where you need to be, not based on what you owe,what you bought it for, what your neighbor "said " he got, etc etc. In Real Estate there is a rule called substitution. If a buyer can get House A for X amount or House B a similar house in a similar location for X+100 , they are going to buy House A. Especially in this market where they get the slow drip of negative information that puts them in a place of fear.



Advice for Buyers-

Did you know you can have an agent represent you? A lot of buyers do not understand that there is something called Buyer Agency. This is a win win situation for you. The best part is 90% of the time the seller pays YOUR agent. True! So you can have someone on your side that knows the comps and knows the market and they can help you and guide you through what will probably be one of the largest financial decisions in you life. If you find an agent that you like, be loyal to them, and they will go to the end of the earth (and trust me I have just about done that more than a few times!) for you. Don't run around an agent and then throw them over in a heartbeat. We only get paid when we sell something so we invest a lot of time in people and when we prove ourselves to you, be loyal to us. But if we don't drop us~

Remember smile--- Life is Good!