INSIDE THE MIND OF A BUYER IN TODAY'S MARKET | Buyers' timing, market crash and interest rates скачать в хорошем качестве

INSIDE THE MIND OF A BUYER IN TODAY'S MARKET | Buyers' timing, market crash and interest rates

Talking to colleagues like fellow Corcoran Dwelling Realtor, Josh Jankowski, helps all of us dissect the current market and how to best advise our buyer and seller clients. Here are some of the summary notes below! INTEREST RATES This seems to be top of mind for buyers right now. Are buyers waiting for the interest rates to drop? Or are you purchasing with cash? Josh points out that even if you're a cash buyer, you still compete against a financed buyer. Cash buyers typically want some sort of discount (and I dive a bit more into why this happens). Long story short, for some, yes, they're waiting. Cash buyers may be waiting for prices to still come down. Depends on motivation. We kind of cover the gamut TIMING Every buyer has different timing needs. Some are waiting for the supposed "bottom." Nobody knows. But Josh seems to feel like we are at or near the bottom in our local Sarasota market. NOW is such a great time to purchase. And yes, prices could still drop 2-3% in the next year. Or they could stabilize or go up. How is one supposed to know? If interest rates DROP, prices go up because now we have more buyers looking at your house. Are they going to OVER PAY? Generally not because we aren't seeing multiple offers here right now. In some outlier cases like auctions and distressed properties... maybe but those are maybe 1% of the cases here in SW Florida, particularly Sarasota, Siesta Key, Longboat Key and the most desired areas MOTIVATION Asking many questions allows us as agents to decipher what a buyer's motivation may be like: a) are you purchasing to live in / rent / snowbird? b) if it is ONLY a pricing motivation, nobody ever can tell you but again see above under "timing" as to what we think is happening c) maybe you have deadlines for a 1031 exchange and you must identify the exchange property within 45 days and close within 180 days d) If a buyer makes an offer and is not "in love with it," motivation may be low. Likewise if they find their "dream home" they'll move mountains to see it through to closing. -- the $30M home that just closed on Longboat Key, a record sale, was a case where the buyer HAD TO HAVE it according to the buyers' agent! -- likewise I have a client purchasing a property in the $200k range up in Orlando with a Realtor partner up there. the financing has been a challenge, he's not in love with the condo and isnt moving into it, so he gave very little during negotiations because had it fallen through he was OK with that. LOCATION Buyers always want the best location and of course lowest price. Always of utmost importance. And if it's a less desirable spot, it would come down to price! PRICING While some buyers are waiting on the interest rate drop -- BREAKING NEWS -- you can never change your purchase price but you CAN possibly change your interest rate. NEGOTIATE the best possible price on your purchase now! Buyers are very hyper focused on price right now. CAPE CORAL FORECLOSURES Yes, we addressed this interestingly because it has come up a lot in Josh's discussions with his average 10 talks daily with buyers. This has made the news so buyers are aware that this market has the highest number of supply and foreclosures in the country at the moment supposedly. Josh calls it "blue tarp central" and yes to that point, let's go back to the "location" topic above. Have you been to Cape Coral? What is your motivation to buy there? It is strictly price? What is your lifestyle and things you'd like to do? If you're interested in fine dining and the opera, you'll be driving an hour or hour and a half up to Sarasota to enjoy those activities. I really appreciate you watching, subscribing, liking and commenting!! And if you're in the market to either sell your current property in and around the Manatee, Sarasota or Charlotte County areas, OR to purchase in the same Sarasota, FL areas, please reach out to me. Communication is my reputation and your call is very important to me. CONTACT ME ANY TIME | Complimentary Consultations | Value of your Home etc SHAYLA TWIT, Sarasota FL Realtor, CLHMS Certified Luxury Home Marketing Specialist CORCORAN Dwellings 1947 Ringling Blvd Sarasota, FL 34236 CALL / TEXT: (941) 544-7690 EMAIL: shaylatwit@gmail.com MLS: https://www.shaylatwit.com #sarasotarealtor #floridarealestate