Quote:
Originally Posted by boilrmkr
I know the market is slow but there are houses selling here in Savannah. The military is always moving in and companies like Gulfstream are expanding. What I am wondering from potential homebuyers relocating to the area is.....What's the hold up? I am getting mixed messages from realtors as to buyers wanting a great deal. Are buyers waiting and looking for houses that have been marked down or are they hoping to make lowball offers on current prices? I know many people are waiting for their houses to sell but I am wondering their state of mind when they are ready to look at homes. Any thoughts would be appreciated. Obviously I have a house on the market!
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Personally, being military, we don't have much choice as to when we move into an area, and I'm not a big fan of renting. So, if we see a house we like in our price range that fits most, if not all, of our criteria, then we'd probably just go for it. I don't sit around waiting for the price to be reduced, but if I see that a house has been on the market for awhile, I'm definitely curious as to why; and it brings up questions of whether or not there's something wrong with it. So the simple fact that it's been on the market for awhile can deter buyers. Also, if a house needs work (updating, repairs, etc), most buyers aren't interested in having to do that themselves, and probably don't have the money to, anyway (plus, many can be short-sighted and not think that things can be done over time to build equity). Another reason a house might not be selling quickly is the way it is staged. Sad, but true. Most people can't see past a poorly designed space, even if none of that will be there when they move in. Paint can be changed. Wallpaper can be torn down. Flooring can be replaced. And you're bringing in your own dang furniture. But the truth still remains, people want to see a place at its full potential, looking sparkly and new. I'll even admit that a house with contemporary furnishings and in-style decor draws my eye much better than one with things still hanging around from 10 or 20 years ago.
I noticed your other post mentioning that military moving to Savannah should check out Georgetown, and that you currently live in that area. If you'd like, you could email me the mls # to your house (or website w/ your listing on it), and I can take a look and tell you why I would or would not be interested in your house. Keep in mind, it would be an internet perspective...I live too far away to be able to physically check out surrounding homes and the general neighborhood (which can also have a negative impact on the potential hold-up on the sale of a home). It doesn't hurt that I'm looking for homes in that area, either.
With 3 kiddos in elementary school, that's top priority for me, and I couldn't find anything better than Georgetown that fit our needs.
For what it's worth, though, I hope things move more quickly for you. We're in the "getting our house ready to sell" stage, and frankly, selling it is scaring the crap out of me. If Savannah becomes a reality for us (I'd be a little surprised if it didn't), I may need to sell fast, and as we all know, that's rare in this economy.
I'm just crossing my fingers and hoping for the best. So, good luck on yours!
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