We have all heard the news that the Real Estate Market is slow. And in Nashville, TN and Middle Tennessee, we are having some trouble with that reality!
You see, a Buyer’s Market is a rare thing in Nashville. As the Seller of a home here – and especially if you have been a Seller several times – you are accustomed to being in the driver’s seat! Calling the shots, negotiating the highest price for your home.
Let me switch gears for a moment – hmmmm, maybe I should go with this whole driving analogy here!
In the mind of most of today’s buyers, they are only going to buy if they find a “real deal”. Here is the scenario: A buyer sees a luxury car of a house, but makes a clunker type of offer! The seller ends up puzzled and not understanding, because they know they have a luxury car and they are not in any kind of distressed place in their world – they were just hoping to upgrade to an even nicer one!
Soooo… the deal is NOT going to happen! Because, after all, a luxury car is still a luxury car, and NOT a clunker! The Sellers end up refusing the offer and are fine to wait for another one! And the Buyer leaves angry, because “doesn’t the Seller know that there are 14 other luxury cars exactly the same as theirs that they could most likely get for less?” I have seen this scenario played out again and again in today’s real estate market!
A smooth and successful home sale is really a beautiful thing – much like a luxury car! If you are a Buyer and are looking for an amazing deal, then look for a foreclosure, a short sale, maybe even a relocation company’s inventory, another distress sale or possibly an estate sale! Otherwise, if you find a house that you really love, then ask for reasonable price concessions or Buyer Incentives from the Seller – such as that seat cover that would make the car so much nicer or a new stereo system that would deliver sound quality like you have never heard! There is always a place to meet in the middle!
If you are looking for real estate in the Middle Tennessee area and would like more information, please feel free to contact Realtor Emily Lowe at 615.509.1753!