The Sarasota real estate market is changing yet again. With a couple of years of "bubble burst" under our belt, we are once again having to re-group and employ new strategies to find the best deals.
Just 6 months ago there was still room in list pricing to lower it quite a bit, situation permitting of course. We are finding that at this point, list price is alot closer to the ultimate sales price, because sellers have simply gone as low as they will go.
Although buyers have long felt that the game was to get as much off list price as possible, in todays market we are finally getting down to what is really important - which homes are a good value??
A well priced home might be worth paying full price for. There, I said it. This is completely counter to what every buyers mindset is - but I have seen too many people lose a fantastic home at a fantastic price because they wanted "just a little more off".
Let's assume there are two identical properties, each worth $200K. If one is priced at $250K, and one is priced at $175K, you obviously do better buying the lower priced home at full price than getting 20% off the higher priced home. And yet, I actually had someone say the other day "I would feel more satisfied buying the higher priced home, because psychologically I won the negotiating war"
This market demands that we stop playing games, and take a long hard look at the value of the home - if you get a deal, you get a deal. That's all that matters.
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