Cindy's Blog

This market is still a little wacky. While it is true that there are more homes selling, and things are selling a bit more quickly, prices are still not in a good place, and it's still a difficult time to get sellers to realize that in many cases they're not going to get what they want, and sometimes, they're not going to get what they "need."

At any rate, one thing I've seen more of recently (meaning never at all before a month ago, and then 3 times since) is sellers going back after those buyers that seem interested, but perhaps not inclined to "pull the trigger" on a contract. By writing a contract in the reverse, the seller is basically able to get the buyer's attention, hopefully with something that is appealing enough (whether price, terms, etc.) for the potential buyer to sit up and take notice. While I have yet to see this work in the spirit in which it's intended, it definitely does serve to get people back to a negotiating table they have theoretically left.

All that aside, and the the fact that the market is still down, it's good to remember (especially if your home is on the market) that this is the time of year anyway when there is a bit of a slump. Certainly around any holiday weekend, but also once we get into the "thick" (literally and figuratively) of summer in Richmond. It almost seems like buyers are too sluggish to come out and look. Houses still sell, though, and it does seem that things are beginning to pick up- just not fast enough or far enough, necessarily, for the sellers, out there.

If you are a buyer, or potential buyer, what the heck are you waiting for? With the inventory still relatively high, rates still quite low, and the prices at a reasonable level- get out there and start looking. It's still a buyer's market, but it's not going to last forever!