The Peak Report
Real Estate Blog for the “High Country”
Making it at Both Ends
( The Truth About Unicorns )
So, you’re selling and buying, maybe not in that order, and you want to make it on both ends. You want to sell high and buy low…….. that’s probably not going to happen. In real estate, as in stocks, as in anything in a supply side economic environment, it’s usually either one or the other. If prices are high, you have a very good chance of selling your home for the optimum price, however finding that deal when it comes to purchasing a new home will prove to be difficult. And on the flip side, purchasing a new home because it was such a deal with the expectation of getting top dollar for yours may prove to be very frustrating. If you are going to be involved in both a purchase and a sale, take time to understand the market, and be realistic in your expectations. As Realtors we see this every day, people who feel that their home is worth more than market value simply because that is the price needed to make a particular set of real estate transactions work i.e., “ In order for me to buy this house, I need to sell my house for this much money, ergo my house is worth this much.” Understand, we are Realtors, we do not create the market, we do not affect the market, we simply respond to the market the best way we can for our customers. A realtor who over promises a seller both on sale price and days on market does no one any favors. An overpriced property, waiting for a buyer that most likely does not exist, wastes time, energy and ultimately money. The simple fact of the matter is, the real estate market operates under the rules of a free market economy, and follows demand. In a down market demand is created in most cases by one simple fact, price. Sure you will hear about exceptions where people overpaid, but that is the exception. The truth be told very rarely does a person make it on both ends of the deal.