September 28, 2014
Sitting on the Fence
I have been speaking to people ( no surprise, that is what I do) about real estate and one of the most common responses I get from people who indicate they are interested in a purchase or sale of real estate is that they will ‘probably wait until after the first of the year.
This is a curious response when it is broken down to its elements. People who delay in making a decision are commonly called ‘fence sitters’. People who sit on the fence appear to be waiting for a condition that is favorable for them to act. If everyone is doing the same thing, once that condition appears, then it is reasonable for everyone to get off the fence; even those who may not feel ‘right’ about the situation may get ‘pushed off the fence’ and act rather than miss out on the opportunity that everyone else sees.
At the end of the year we often see a slowdown in real estate activity, much of it is related to the holiday activities but a considerable amount is due to fence sitting using the holidays as an excuse.
Let me pose a question to you. If you are looking for a home and find it; it has all of the amenities you desire, and the price is within your budget, would you like to enter a bidding war in order to get it? Most people would prefer to be the only offer on the block, I would think. If everyone is jumping off the fence at the same time, it is unlikely that you would achieve your goal of getting the property described above since it is a well known fact of real estate that if you like a property, you will not be the only one. To wait until everyone else is in the market to find your home is almost a guarantee to make it more difficult and more costly. In real estate, time is of the essence when searching for a property; to wait until after the first of the year will cost you money.
If you are a seller of property, waiting to sell is an equally poor choice. Your property must compete for buyers when it is place on the market. Does it make sense to you to wait for everyone else to put your home on the market. Would you not like to be the shining example of available homes and not have to compete with other sellers for the reduced number of buyers? I would think that you want to be as exclusive as is possible in order to get the best price. Additionally, during the holidays you can decorate your home for the season and make it appear to the buyer in a way they may see it for themselves and help in the sale of the house.
Finally, is it better to get off the fence or be pushed off the fence? Personally, and to avoid injury, getting off on my own accord looks to be the most profitable and least painful approach. As experienced Realtors, we can make the holiday sales season less stressful than you may think is possible. Give us a call at 925-308-7045……..and Happy Holidays!