One Woman’s Opinion

Central Oregon Coast Real Estate

Need real life input on the area, people, and realities of the process? Call me!
I relocated here, too. My memories are still fresh and I would be delighted to talk with you! Call: 541-997-MOVE (6683) Sher

Sher’s Market Forecast for Fall 2007 through Spring 2008

During normal times, the level of real estate activity along the Central Oregon Coast during Fall and early Winter depends more upon the rain than anything else: so long as the weather is dry, we continue to have a real estate season.

This year, I believe our year-end activity will be up regardless of the weather, and even more so if the weather is the pits. Buyers, having been at the mercy of Sellers for so long, are mercilessly shopping for bargains. The thinking is that Sellers who still find themselves on the market this time of year MUST sell, are growing near to a state of desperation, and cannot imagine continuing to put up with the hassles of marketing their home during a long, inactive, rainy winter.

Sher’s opinion: Buyers and Sellers each need to BEWARE!

Sellers: I do not believe the market will improve for Sellers any time in 2008. Keeping a property off the market now, thinking it will sell for more in the spring is, in my opinion, self-defeating. Home prices are adjusting downward and closed sales will turn into comps that will not favor Sellers in the coming months. Now is the time to get real with price and motivation. If you don’t have to sell, take it off the market and leave it off the market until …my guess … mid-2009 or later.

Buyers: Because of the mortgage situation, the absolute best bargains are going to be had by truly Cash Buyers who are prepared to perform (i.e., cash is NOT coming from a home that has yet to sell). While Buyers supposedly have the power in this market, Buyers who are not Cash Buyers will be at a disadvantage as money gets expensive and hard to come by. Worst of all, funding by lenders may become the most unpredictable part of the real estate transaction, making the situation potentially unbearable for both Buyers and Sellers.

Bottom Line: We are going into a market that poses challenges for both Buyers and Sellers. Those deals that come together will be between:

Sellers who start our with their homes competitively priced and know they must still be willing to negotiate, and
Buyers who are extremely well qualified without contingencies and who understand they cannot get what they want relative to price and expect the Seller to give on everything else, too.

The upcoming market will sort out the most patient, most prepared, most able to produce among all the players in real estate: Buyers, Sellers and Brokers.

Old Town Realty - Serving Florence, Oregon, and the Central Oregon Coast

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Sher Rosenberg, Old Town Realty, LLC - 244 Maple St., Florence, OR 97439

E-mail Sher; Cell: 541-999-0815; Phone: 541-997-MOVE (6683); Toll Free: 866-999-0815