Someone just shared with me a very common sense article in Money magazine about bridging the gap between buyers and sellers in the market today. They echoed something I have observed intensify over the last six months, the standoff that sometimes exists between buyers and sellers. Many sellers understandably recall what they could have sold their house for just two or three years ago, making it difficult to accurately price their home today. However, I do see that changing. Sellers know, as one colleague told me recently, that "Selling a home is not for sissies," and are pricing much more in alignment with the market. Our multiple listing service shows homes selling within 3% of the listed price (the last listed price- comparable solds, listing history, condition and many factors effect the final sales price). I have also observed, as this article does, that buyers, wary of the market continuing to descend are looking for the best value. Some buyers will end up losing out on a good home for drawing the line too hard in the sand while negotiating. Negotiating works well as a conversation that continues between the buyer and seller to produce the best outcome. Negotiating skills in a realtor are more important than ever, given the current scenario.
So while I read many articles on real estate, I pass few along, and this one has some salient points. Read the Money Magazine article.