18th out of 20 at Businessweek

[Bobby J]

Let's see :scratch: when did I hear that statement uttered by Realtors before?

"Now is a great time to buy Florida real estate......

...because it is a bargain compared to the other 49 states.
...because they're not making any more land.
...because it always goes up and has a better return than stocks.
...because it is a great investment--you can't live in a stock certificate.
...because there are 70 million Baby Boomers looking to buy this 500sf condo.
...because interest rates are at a 40-year low!
...because it's the best place to grow your kid's college fund.
...because it will double in value next year (week or month).
...because you'll be priced out if you don't buy NOW!
...because interest rates are going to be higher in the coming months.
...because there are some great bargains that won't last long.
...because there is so much inventory that you've got a great selection.
...because prices will start going up when Spring '07 arrives.
...because prices will start going up when the snow birds arrive.
...because there is a HUGE selection and you can pick your dream home.
...because some prices are 40% off the high selling price.
...because I need a new pair of shoes.


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Shelly,

Selling RE can be very difficult in a market like this. Putting all the jokes aside, how would you recommend an agent offer properties for sale that seem to comp out in the current market?

 

[Smiling JOe]

Some people bought 2, 3, 4 or more for "investment."

Not a good idea then?




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For your extremely conservative investing ways, I would recommend you keep all your money in a low interest bearing account, where you will feel comfortable. ;-) Each buyer is unique. You are not talking to someone who was beating the bush for buyers when the market was topping. Most buyers came of their own free will, looking to buy as much as they could. Buyers have different reasons for buying. Some are simply looking to get in now, and enjoy their get away home, which will become their retirement home many years down the road. Others, want to be in and out in the same day. Of course, you know this and are just targeting one type of buyer. Flipping property or stocks isn't for everyone, even for some who play the game, but if you are buying something which you believe in, can afford, and will enjoy, I say go for it.

 

[SHELLY]

Shelly,

Selling RE can be very difficult in a market like this. Putting all the jokes aside, how would you recommend an agent offer properties for sale that seem to comp out in the current market?

I don't think figuring out how to offer product which comps out in the current market is what you need. The key is convincing sellers their properties are still overpriced, even if they do comp out in the current market--that type of thinking doesn't work in a deteriorating, oversaturated and tight-credit market.

The tricky part is going back to these sellers and telling them that when they bought the place in 2004, and were told "it was a great time to buy,"....it really wasn't.

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