Tuesday, January 22, 2008

WOW...what a week, huh?

Who thought the Fed would have an emergency meeting?

Who thought the Fed would cut the rates 3/4 of a point, which is the LARGEST CUT IN 27 YEARS?

Who thought the housing market would begin to bounce back so soon?

Did I just say that? I DID!!!

Now, let me preface that comment that I am referencing my tiny corner of the Tampa Bay Real Estate market. I have seen a tremendous increase in buyer activity, which has led me to ink 3 contracts w/i the last 14 days! My sellers are happy, my buyers are looking...all is getting right in that sector.

Let's put it in perspective - don't go planting that sign in your yard and expecting Buyers to beat a path to the closing table. I have insisted that my Sellers price their properties correctly so that when Buyers do present themselves, the properties are positioned to solicit an offer. I can advertise a home in every major media publication in the 48 states, but if it's not priced where a Buyer sees value compared to the myriad properties out there, it's a dead listing.

I can't tell you the number of listings i have walked away from. Since I make a monetary investment in every home I list, I actually make money when I walk away from over-priced listings.

The Tampa Bay area is experiencing about a 5.3% absorption rate - simply put, only 1 of every 20 homes on the market at any given time are being sold. The North County beaches are experiencing about 3.35% - or 1 out of every 30 properties!!!

So I have 2 questions:

1) Are you one of the 19 (or 29) listings just sitting there?
2) What are you willing to do to become that 1 home that sells?

Answer those questions and you will be a successful seller.

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