Market Confusion

It's been a wild ride in all sectors of the real estate market for the past year. The banking and capital market problems has precipitated much market confusion.

The foundation of the business remains solid. Prices may fluctuate wildly but real property value remains.

The oldest real estate war of "price vs. value" will continue forever. To truly discern "value," today requires a combination of skill, experience, real estate valuation education, intelligence plus a high degree of "common sense."

Unfortunately many sellers today simply overpaid for their properties but not all!

Some buyers think that the name of the game today is "low ball" offers. But this often times only acts to persuade the sellers not to sell. Many time "low ball offers" acts as a dis-incentive to the seller.

Some perpetual "low ball buyers" of today simply want to "prey" and take advantage of the "perceived" misfortune of sellers.

In doing so, they more often than not, lose out to good and even great property value opportunities. They simply become blinded by both irrational and childish greed.

Years ago, when I was very young in the business I met a couple seeking a home. Week, after week, month after month, and eventually year after year they went to open houses, read the daily newspaper real estate advertisements, chased For Sales by Owners homes and treated agents and brokers alike with with a high degree of condescending contempt. They knew better than anyone!


They were a fine pair but were stuck on the the quest for the impossible dream of "stealing" a property.

Years later I would run into them and they would loudly lament the many buying opportunities they passed up.

They were never satisfied with either the homes they saw, made or the market conditions. Eventually they both died as life long tenants paying rent.

In the same time frame many sane and savvy buyers purchased real estate well, enjoyed the pleasures and benefits of home ownership and eventually sold at much higher prices than they paid.

Value, like beauty, is always only in the eyes of the beholder!

Bill