I just heard this again yesterday from a very established and successful businessman in Fort Wayne. And I have heard this over and over again from other very successful business people who own substantial real estate holdings and homes. But he and his (also accomplished) wife wrote an offer to purchase contract with me yesterday after saying this and listened to my advice and coaching. After signing it they said they were nervous but that they trusted me; that they felt I was the right person to handle this tricky transaction for them. It was a great brand new listing so naturally a competitive situation, but we won the bid with our specialized strategies and our offer was accepted. Now we will move on to selling their home. Yes, it is a tricky market through which to navigate.
I have a few points to make about this:
Our own 30+ year team appraiser and agent Mark Swift just told me that “53% of higher-end properties in our area close between July and October so now IS the time to make a profit on your high-end home that you don’t need anymore and downsize; like if it was your family home and the kids are all out the door now. Now you can SELL HIGH in this, our first-ever pure sellers’ market.
I see couples stay in their 3-floor homes for example way too long to the point that it becomes a miserable situation trying to move in their later years. Don’t put it off. Do it before you get to this point and especially now when you can make great money on your home’s sale. And help some poor family that can’t find a new family home!
But you say I will have to buy high too? If you are downsizing, it's ok. It is always going to be one way or the other.
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Buyers market=Buy Low-Sell Low- the time to upsize - Previous Markets
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Seller’s Market=Sell High-Buy High.- the time to downsize - Today’s Market
You or your friends or family should hire a proven, experienced and creative real estate advisor who has invested in a full-time staff to help them to accomplish these big goals; kind of like a surgeon has his or her team surrounding them at the operating table. This job is way too complicated today to serve many clients (if that agent is in demand), to do it as a one-man band. I witness some huge mistakes being made by those trying to juggle too many balls alone or too inexperienced and undertrained. (My new agents always work like residents in their first years.) But unfortunately, most people seem to just use anyone with a real estate license that they know of; a friend of a friend, or a relative without ever checking their stats and credentials. Would you pick a surgeon that way? I know it’s not your heart or brain but it is your largest or one of your largest investments/assets and moving is one of life's most stressful projects.
I know most of you are afraid to sell because there is “nowhere to go”. But you are only looking at visible inventory. I maintain a long list of potential buyers and sellers. My team and I dig for you in the invisible inventory market. You will not have to move until we find you your next home. You are in control of that. Our small crew of 8 agents (3 at lakes and 5 in Allen County) have sold 85 homes year to date, closed or pending and no one has been left homeless. Please have me out to visit with you and I will explain this to you in greater detail. I am also happy to come out and speak to your employees to teach them all how to navigate these new unchartered waters of a seller’s real estate market to their advantage.
