Still a Strong Sellers Market?????? (Miami, Tampa: condos, homes, buyers)

[JPrzybylski07]

Originally Posted by Sugarcubesea

We made offers on multiple units but only one in Wiggins Bay... none of the buyers were willing to budge on a price that was acceptable to us. We made fair offers based on the comps.

Comps are still somewhat subjective. Both buyer and seller play the game of confirmation bias! Fun!

[logybogy]

Unfortunately, I've noticed a lot of sellers just aren't that motivated to sell. They are playing the game and realtors desperate for commissions let them because they are playing a game too and who knows maybe an unsophisticated buyer will fall in love and it'll all work out. People do win the lottery even if it is rare. It means a lot of "listings in name only" out there. If something is sitting for nearly a year, there is a problem somewhere. Usually, the sellers are unmotivated and unserious. It just wastes everyone's time.

[JPrzybylski07]

Originally Posted by logybogy

Unfortunately, I've noticed a lot of sellers just aren't that motivated to sell. They are playing the game and realtors desperate for commissions let them because they are playing a game too and who knows maybe an unsophisticated buyer will fall in love and it'll all work out. People do win the lottery even if it is rare. It means a lot of "listings in name only" out there. If something is sitting for nearly a year, there is a problem somewhere. Usually, the sellers are unmotivated and unserious. It just wastes everyone's time.

Then the market will adapt accordingly. We are only ever in 3 kinds of markets, a buyer’s, seller’s or balanced!

It’s a freaking game 100%! I like to think the real estate market much like money it’s self is all just energy and the people involved as a whole are what make the game and world go round and round!

As a fairly new millennial realtor myself who previously worked as a title escrow officer in Parkshore this profession is already making me want to rip my hair out of my skull! Lol

[logybogy]

I don't blame you. It's a tough business working on commission as a realtor, but real estate is fascinating especially some of the jobs in commercial and on the development side where there are more salaried positions. You might just be in the wrong job but still in the right field certainly for southwest florida.

Originally Posted by JPrzybylski07

Then the market will adapt accordingly. We are only ever in 3 kinds of markets, a buyer’s, seller’s or balanced!

It’s a freaking game 100%! I like to think the real estate market much like money it’s self is all just energy and the people involved as a whole are what make the game and world go round and round!

As a fairly new millennial realtor myself who previously worked as a title escrow officer in Parkshore this profession is already making me want to rip my hair out of my skull! Lol

[Sugarcubesea]

Originally Posted by logybogy

Unfortunately, I've noticed a lot of sellers just aren't that motivated to sell. They are playing the game and realtors desperate for commissions let them because they are playing a game too and who knows maybe an unsophisticated buyer will fall in love and it'll all work out. People do win the lottery even if it is rare. It means a lot of "listings in name only" out there. If something is sitting for nearly a year, there is a problem somewhere. Usually, the sellers are unmotivated and unserious. It just wastes everyone's time.

I agree, I feel the sellers that have had their homes on the market the longest are in no hurry and its just a game to them.

Since we are close to retirement, I'm trying to get the best deal we can so that we have the funds left to have a bit of fun while we live in paradise. We made 3 offers this past visit and all were fair offers based on the assistance of our realtor.

I just feel bad for all of the realtors that have to deal with this dance. Our realtor who has been helping our family and friends find homes in this part of FL for a good bit of time, stated to me that he feels the retired homeowner that is selling feels their home is very special and worth more then the market is showing or saying.

[ChalkItUp]

We have friends in CT who asked us to go look at a home in Village Walk off Vanderbilt. Owner /real estate agent asking $499,000. I had all I could do but not laugh in her face. It was a clean house mostly 1998 original with a semi nice pool. Fair asking price would be $425k max. They hope to find suckers and some probably do.

[Corrie22]

Originally Posted by logybogy

Unfortunately, I've noticed a lot of sellers just aren't that motivated to sell. .

That's mostly it....the economy is booming...so their investments are paying out....they don't need the money and they're holding out until they get the price they want

[Richard818]

Originally Posted by logybogy

Unfortunately, I've noticed a lot of sellers just aren't that motivated to sell. They are playing the game and realtors desperate for commissions let them because they are playing a game too and who knows maybe an unsophisticated buyer will fall in love and it'll all work out. People do win the lottery even if it is rare. It means a lot of "listings in name only" out there. If something is sitting for nearly a year, there is a problem somewhere. Usually, the sellers are unmotivated and unserious. It just wastes everyone's time.

The key is NOT to be a motivated buyer. Be patient and you will eventually find a motivated seller and a great deal. Make sure your agent is willing to put in the time and effort to stay on top of the market on a daily basis on your behalf or do it yourself.

[JPrzybylski07]

Originally Posted by Richard818

The key is NOT to be a motivated buyer. Be patient and you will eventually find a motivated seller and a great deal. Make sure your agent is willing to put in the time and effort to stay on top of the market on a daily basis on your behalf or do it yourself.

This is good advice. The word I use and tell buyers is not to get too ATTACHED to any one property. It takes me 20 mins to put together the paperwork for an offer, so as long as I know a buyer is serious about buying in our market I don’t mind having to put in the work so to speak and write up multiple offers.

At the end of the day we aren’t as rationale as we all believe, it’s an emotional market out there, energy. Sure there are suppose to be safeguards like appraisers and lender underwriters to keep some stability in the market, but it’s a freaking game and unpredictable! The fact that markets like Orlando and Tampa average only 2-3 month supply of inventory and Naples is at 6, Bonita and Estero at 5 says there’s is plenty of properties to have fun with and throw out some aggressive offers!

[Corrie22]

Naples is not the same market as Orlando or Tampa either...

They are vacation homes...but also investments....they don't need the money right now and will hold out to get their price