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Real Living Now Real Estate

The market takes a breath

While the last few months have seen run away prices for most, the market cools from the top of the market down to $300,000.   What is contributing to the downturn is the oversupply of some product.  2 story inventory increases, but what is staying on the shelf is dated.  When you analyze the stagnant inventory, the common denominator is esthetics.

The Number 1 road block to SOLD is color.  Number 2 is the Décor.  If you can’t see your look in magazines and showrooms today, that furniture is costing you in market activity and the ultimate sale price.   If you are waiting for oak cabinetry and furniture to be on-trend, you may postpone the sale for your heirs.  Number 3 is convenience.  If a seller needs a 24-hour lead time for a showing, everyone assumes that it takes a full day to make it presentable. Wanting the appointment to be convenient, could be sending another message you didn’t want to broadcast.  Sellers need to try on the buyer’s glasses.

The price climb continues with ranches and leading in price per square foot, the villa.  While a main floor master tempts the boomers, the ranch captures this group with more options for main level living.  The boomer is looking for a smaller dwelling but is seeking high style.  Upgrading to a current look can prove to be less costly than a series of price reductions.  Buyers are wanting to move-in and enjoy.