There are Sellers....and quite frankly, Agents....who want to go above and beyond capitalizing on "thinventory" in the current Sellers' market in many areas of the country. The blindfolds may be on when it comes to condition...never mind the fresh paint, replacing flooring...tending to the routine systems maintenance or updates that may well welcome a higher price. The Sellers and agents sometimes believe...none of that has importance...there is a shortage of inventory and "what condition your condition is in" is real estate trivia....Buyers have their checkbooks open.
Anxious...oh YES...the present state of thinventory has meant Buyers stacked up like cordwood in a variety of locations and price ranges...waiting for the house that they will call home to come on the market. Gone are the days of writing offers with a home to sell...of writing less than asking price....creative offers with flexible closing dates to meet the Sellers' every needs are the offers that are accepted.
Agents with experience who review homes on the market for Buyers are amazed....Will that property sell at THAT price...and will an appraiser wave a magic wand to "insure the value and enable it to be financed ?
Real estate markets go in cycles...what goes up...goes down...and how far IS down...and when ? Our crystal balls are foggy...we can't make any predictions. We long for the days of a more balanced market...and feel it is healthier for everyone rather than the frenetic state we find ourselves in currently.
We still believe in having our Sellers prepare their home for sale and not overlook the maintenance and cosmetics that will create the highest and best "eye candy" to attract buyers...that will never change. The price Buyers are willing to pay....how much and for long...time will tell.
This has been a "state of the market" post brought to you by Sally K. & David L. Hanson, Broker Associates with Keller Williams Realty honored to be serving both Sellers and Buyers in southeastern Wisconsin.