About Me

My photo
Fleming Island, FL, United States
My beginnings were humble which makes the end of the story that much better. It doesn't matter where you came from it only matter that you have a plan for where you're going. Don't worry about what anyone else says believe in yourself, I did. We moved to Jacksonville from Upstate New York several years ago. Shortly after arriving my husband and I decided that I would give real estate a shot. While my husband positioned himself to be my biggest fan I set out to see what real estate was all about! It's been a wild ride. From the very first year I was blessed to be a top producer for my company Vanguard Realty. What did I learn? That old fashioned hard work, networking with fellow professionals and most importantly remembering that if my customers had a remarkable experience they’d refer me to friends and family is what makes a real estate professional successful.

Wednesday, March 26, 2008

Buyer Analysis Paralysis

You walk into Blockbuster on a Friday night looking for just the right movie. You have money in your pocket and a mebership card in your wallet. It's been a long week, you need to relax and you're open to just about anything. Maybe a comedy (a Little laughter might be good) action adventure (journey to new places, living on the edge) romantic comedy (always light fare leaving you feeling fuzzy) drama (mmm, no you already have enough) so many to choose from.

You see the end cap with the hottest new movies and make a mental note of a few then move onto the NEW RELEASE WALL. Everyone has a different strategy on this, some from A-Z others prefer Z-A. You start thinking out loud, " I've seen that, that didn't get good reviews, Oh they're out of that one (next time I'll get that), I don't like her in films, I guess I'm not in the mood for a romantic comedy, Mmmmm?, I heard that was stupid, my husband really doesn't want to see "Ya Ya Sisterhood", (then you look to see what other folks are picking up) Ugh! don't they have anything good?

You take one quick pass through the interior movie shelves and determine nothing really looks good. You consider your options. You could just go home and watch a movie you already have, watch TV, maybe you'll just take a bath read and go to bed early. That sounds like a plan. You proceed to walk out of Blockbuster that houses more than a few thousand movies without one. What is that?

Welcome to the world of Buyers! Analysis Paralysis! They totally set out excited about buying, open to options, wanting to see what the world of real estate holds for them. Determining the price range they begin. There are 67 homes in their price range! WOW, where do they start? I will tell you that they will miss any homes that are real winners that are just out of a price range. ie $305,000 instead of $299,000, $155,000 instead of $150,000. Consumers look in blocks of $50,000 normally. There is no need to look a little higher or a little lower. There are too many to choose from already.

You now have an overwhelmed buyer. Looking back 2,3 and 4 years ago respectively, buyers had 4-5 to choose from. That was it! Out on property they begin thinking out loud, " this kitchen is a little small, there's too much stuff in this house I can't tell anything, the yard needs a lot of work, these paint colors are awful (even though it's just paint), I would really like that one if..., I don't care for this neighborhood, Ugh! They begin to feel discouraged, maybe I should wait for the new release wall (new listings). In the meantime they go home empty handed.

This is unfortunate for the buyer because there are truly some great buys out there. The rates are very desirable as well as sellers are often times agreeing to closing cost assistance. FHA has been given new life and has many pro's that is allowing more buyers to get into the market place.
In the meantime sellers that want attention need to make sure they dot all their i's and cross all their t's. First and foremost PRICE! Get it right sooner than later. You can't fool the market only yourself. How's the curb appeal? Get rid of clutter, Neutralize walls and decor, Make it smell great (not smell on smell), Get your marketing on!!!!!