WHERE ARE THE BUYERS?

8.3.07


Although ‘penned’ over two weeks ago, prior to my disappearing for a couple of weeks off myself, it is possible that the market it still looking for (a lot of) buyers. Before leaving (me that is), we had just come through a very rocky stock market week with ups and downs steeper than most roller coaster rides! Major gaps in real estate market activity were in full swing; I attribute much of that to summer vacations, and the fact that lots of money that could be coming into real estate, was churning around in the financial markets instead.

Those are easy answers, perhaps. There may be more complex issues emerging, some of which I have touched on a few weeks back. Speculation? Perhaps, but apart from normal cycles of activity which occur continuously in this business, the new realities of life’s expenses are probably taking hold in some of our formerly ‘strong’ buyer segments. I mentioned this factor too, just recently.

If this is true, one area which can help counter a diminishing segment is that of price. Although not desirable by sellers, it may become the one way some people (sellers) will get their properties sold.

The key to our real market situation around the NW corner will be seen post Labor Day, when the summer vacation season has finished and people get back to their usual lives, including I hope, that of wanting to buy property in our beautiful part of the country.

©2007 R Leech features