Lisa and Jim's Northern Nevada Real Estate Blog: Where have all the buyers gone?

Where have all the buyers gone?

We're on the market but aren't getting showings ... where are the Buyers?

Our initial response is to address your price ... are you priced right? That is elementary and essential. Assuming your price is right let's look at today's Buyers. Buyers today are very informed. They generally know the market, what is going on in the community, what is going on in the financial/lending world, and the many other factors that can affect market dynamics. This information is available on the internet, in print publications, and other media. They know what is happening so-o-o ... "Where are the Buyers?"

There are Buyers actively shopping and making offers to buy. Their quantity is not what it was a couple of years ago, and there are many, many more properties available for them to buy. What is changing is where people are buying. When the Carson Valley real estate got too pricey a few years back people went to Dayton for affordability and investment opportunity. As Dayton got priced up they went to Yerington. As the prices came down this scenario unwound, the Yerington market slowed, Dayton slowed and they came back to the Carson Valley which is now quite affordable.

It doesn't end there. Our market has been driven by people moving in from out of state, primarily from California. For some time we've waited for those people to sell their homes thinking that their slow market was causing our market to stall. Now we are seeing some of those markets so price decimated that the need or desire to buy in our market isn't what it was. Investors that were investing in Northern Nevada can buy properties in their local market in the $300,000 range that were in the $500,000's a few years ago. They are investing locally. Likewise, people that wanted the lifestyle of a $500,000 home, and were coming to Nevada to get it can stay home and achieve it today without moving to Nevada. Those coming for tax relief? Most people in the $300,000 price range aren't that dramatically affected by the Nevada tax relief and many are now staying home.

Our Advice: If you are determined to sell in this market ... price it right. There is no substitute. Your agent can't buy an ad big enough to overcome improper pricing. Look ahead - where are you going and what will selling your property do for you. The market will change in time - it is up to you to decide if you are going to wait for it, or act now and achieve your immediate real estate goals. Don't be hung up on price or value - it is your position in the market that counts. That will get you where you're going.

Be aware of where you are positioned in the market. The Buyers know your market position... which may be why you aren't getting showings.

Experience is Priceless! Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, http://www.carsonvalleyland.com/, 775-781-5472. Email us at carsonvalleyland@hotmail.com
Comment balloon 1 commentLisa Wetzel • September 05 2007 10:18AM

Comments

Hi Lisa-

I see this is your first post on Active Rain.  Congratulations!!  I just wanted to welcome you to a fantastic Real Estate Industry Network! 

Welcome aboard, I hope you'll continue to blog, and invite others.  Wishing you all the success the industry has to offer.

Enjoy!!

Below are some useful sites and groups you may want to visit right away: You can also use the “search” feature to find almost anything on Active Rain.

READ ME FIRST
Welcome Active Rain New Members

READ ME SECOND
New Members - Getting Started

READ ME THIRD
Before You Write Your First POST!!!  and  "5 Principles to Creating an Effective Post"

Looking for Information or Help with Something?
Your Active Rain Community Resource Guide

Do You Want To Be The Featured Agent In Your Area?
Points Breakdown

Need Photos or Graphics to Enhance your Posts?
FREE Photos and Graphics for your Blog

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

GROUPS:

Active Rain New Members Group - A MUST JOIN IF YOU ARE NEW!
It's A to Z for New Members!

Want Free Exposure with your Listings?
Post Your Listings on Active Rain

You can join any groups you have an interest in, or would like to learn more about.  Maybe Target Marketing, Real Estate Technology, or you can search All Groups, there are hundreds to choose from.

I hope you'll find these to be useful tools in helping you get started here on Active Rain.  You will meet many wonderful people here!! Again, welcome to Active Rain, the best place for your Blog!

Good Luck to you and your business!

Posted by Brad Andersohn, ActiveBrad - 707.646.1876 (Director of Education & Industry Outreach at eXp Realty & RE Tech Campus) over 11 years ago

Participate