Wednesday, August 22, 2007

Where Have All the Buyers Gone?

We’re on the market but aren’t getting showings … where are the Buyers?

Our initial response is to address your price … are you priced right? That is elementary and essential. Assuming your price is right let’s look at today’s Buyers. Buyers today are very informed. They generally know the market, what is going on in the community, what is going on in the financial/lending world, and the many other factors that can affect market dynamics. This information is available on the internet, in print publications, and other media. They know what is happening so-o-o … “Where are the Buyers?”

There are Buyers actively shopping and making offers to buy. Their quantity is not what it was a couple of years ago, and there are many, many more properties available for them to buy. What is changing is where people are buying. When the Carson Valley real estate got too pricey a few years back people went to Dayton for affordability and investment opportunity. As Dayton got priced up they went to Yerington. As the prices came down this scenario unwound, the Yerington market slowed, Dayton slowed and they came back to the Carson Valley which is now quite affordable.

It doesn’t end there. Our market has been driven by people moving in from out of state, primarily from California. For some time we’ve waited for those people to sell their homes thinking that their slow market was causing our market to stall. Now we are seeing some of those markets so price decimated that the need or desire to buy in our market isn’t what it was. Investors that were investing in Northern Nevada can buy properties in their local market in the $300,000 range that were in the $500,000’s a few years ago. They are investing locally. Likewise, people that wanted the lifestyle of a $500,000 home, and were coming to Nevada to get it can stay home and achieve it today without moving to Nevada. Those coming for tax relief? Most people in the $300,000 price range aren’t that dramatically affected by the Nevada tax relief and many are now staying home.

Our Advice: If you are determined to sell in this market … price it right. There is no substitute. Your agent can’t buy an ad big enough to overcome improper pricing. Look ahead – where are you going and what will selling your property do for you. The market will change in time – it is up to you to decide if you are going to wait for it, or act now and achieve your immediate real estate goals. Don’t be hung up on price or value – it is your position in the market that counts. That will get you where you’re going.

Be aware of where you are positioned in the market. The Buyers know your market position… which may be why you aren’t getting showings.

Experience is Priceless! Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates,, 775-781-5472. Email us at

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