Have you felt a change in the Universe? Do you sense a change in the attitudes of the people around you? You’re not alone. Since September, the market has changed, losing its momentum and energy, and instead flattening out to a quiet non-performing sort of market. Volume has shrunk to a fraction of what it was, and the market has retreated to an empty paper tiger with no teeth. According to the LA Times, “Southern California home prices appear to have hit a wall, with the median home price flat for the fourth consecutive month in October.” (11/12/13)
Americans don’t like a lot of things, among them being chaos in Washington and rising interest rates. Yet both have taken place since September and caused most people to temporarily set aside their plans to buy or sell a home or condo. How long will this last? Who knows? What I do know is that it won’t last forever, the normal curve of a free economy will take over when the gods of demand overwhelm the gods of supply with an increase in Buyers.
If you’re a seller, this is not in your favor. You’ve lost traction and the market has leveled itself to the point that the buyers might have the upper hand, if you have to sell. This is not your time.
But if you’re a Buyer, this might be the last little window of opportunity to press any minimal advantage you have in negotiations. This is your time. Take it and use it. Press your advantage and be aggressive, going for the jugular. Your agent’s negotiating abilities will be a crucial component to making you a better deal than you will otherwise have. Make sure your Agent understands this, and that you expect them to take no prisoners! If they’re squeamish or don’t have the testicular fortitude to pillage and plunder, then you need to change agents.
