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Monday, June 28, 2010

Not Delusional But Rather Hopeful....Understanding the Real Estate Market

Maybe not delusional but rather more hopeful is how I would describe some real estate buyers and sellers in today's market.

I hear buyers and sellers, although at differing times, make the same confession - "I wish I had.... " 

Now that the market is a buyer's market I see sellers who either wish they had sold a few years ago or started their listing price near the lowest priced competition rather than the higher priced listings. [I call this pricing in the rear view mirror.]

At the other end of the spectrum I see sellers who purchased three or four years ago who wish they had not made the move.

In today's market a seller must accept the reality - prices are depressed and buyers are seeking only the best deals - not an over priced property from an overly optimistic seller.

Of course buyers must likewise recognize that a good price is a good price and not all sellers are desperate to give away their property! 

The market is what it is - a buyers market where being hopeful is okay as long as it is within reason!

Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

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