Buyers or Sellers Market

[Lynnesail]

I read different viewpoints, is this a buyers or sellers market in TV?

[Bogie Shooter]

Are you, a buyer or a seller?

[Kenswing]

I’d say it’s a buyer’s market right now. Lots of homes sitting on the market for a long time before selling. Seeing price drops on both new and resale homes.

[Stu from NYC]

In the last 6 or so months as interest rates have gone up, the value of most houses in the villages has gone down.

IMHO that makes it a buyers market now but for how long?

[CarlR33]

Either depending on how you look at it. If you buy an overpriced home because you did not do your homework then it’s a sellers market. If the seller of the same overpriced home is still hanging on to it in three months and not marked the price down the it’s a buyers market? Oh, and those higher interest rates the buyer is waiting to come down and has no control over?

[Lynnesail]

In the last 6 or so months as interest rates have gone up, the value of most houses in the villages has gone down.

IMHO that makes it a buyers market now but for how long?

That’s the question. I’m thinking of selling, so what is the right time to put it on the market.

[melpetezrinski]

I read different viewpoints, is this a buyers or sellers market in TV?

Overall, I still believe it's a seller's market in TV. However, it all depends upon the type of house. If you're looking for a patio villa up to a 3/2 designer with no pool, view or prime location, I feel the buyer has the uppper hand. Anything else, the seller commands the price.

[Normal]

That’s the question. I’m thinking of selling, so what is the right time to put it on the market.

If you do For Sale By Owner, you can reduce your selling price up to 5% without losing any money. The aggressive approach usually has your home sold much quicker. Use Zillow or Homes for a platform so that it is visible on the internet. Most buyers utilize Zillow in one form or another during a purchase phase. Title companies for closing abound around here.

[BrianL99]

If you do For Sale By Owner, you can reduce your selling price up to 5% without losing any money. The aggressive approach usually has your home sold much quicker. Use Zillow or Homes for a platform so that it is visible on the internet. Most buyers utilize Zillow in one form or another during a purchase phase. Title companies for closing abound around here.


Unsolicited, unprofessional and free advice, is sometimes worth exactly what you paid for it ... usually, it costs you money.

[dewilson58]

Depends.

[Normal]

Unsolicited, unprofessional and free advice, is sometimes worth exactly what you paid for it ... usually, it costs your money.

2 in our neighborhood over the past 4 months have sold their homes this way. There is nothing wrong with trying. It saved them 10s of thousands of dollars. The realtors were charging 6 percent! Give it a try, if it doesn’t work after 30 days, turn to a realtor. It’s worth the boatload of cash. Many have gone this route.

[vintageogauge]

We are listing our home for sale tomorrow with TV and I'll let you know how it goes regarding the market.

[Bogie Shooter]

We are listing our home for sale tomorrow with TV and I'll let you know how it goes regarding the market.

Hope you are relocating within TV.

[Michael 61]

Quite a few homes went up for sale in Richmond at or a slightly after the one-year mark - most sold quickly with a hefty profit made by the seller. There is one home near me however that has been on the market for about three months - but the owners have way over-priced the home, and have already taken one reduction.

[vintageogauge]

Hope you are relocating within TV.

No Shooter, we are heading back up north for several reasons, nothing to do with anything negative here other than the heat and humidity lol.

[BobnBev]

Depends.

Go change them.....we'll wait.:agree::yuck:

[dewilson58]

Depends.

If you are selling and need a quick sale...............It's a buyer's market.

If you are buying and need something quick............It's a seller's market.

Bottomline..................Houses are selling in TV and selling fairly quickly.
Not within hours or days...........but they are selling.

[Wilharm]

In the last 6 or so months as interest rates have gone up, the value of most houses in the villages has gone down.

IMHO that makes it a buyers market now but for how long?
Buyers market only for cash buyers. Higher interest rates won't help buyers that finance the purchase.

[rsmurano]

It’s a sellers market, both used and especially new. When you have up to 200 people in the lottery to buy a new home, every new home will be sold.
For existing homes, sellers are making good money on a year old home. A lot of people see a “reduction” on their listing and think “the sky is falling” when in fact, the seller is trying to make $200,000 in a year and if it doesn’t sell, they’ll lower the price. It’s only a buyers market when sellers are actually losing money not coming down in price when trying to get top dollar.
I would sell my house by owner since this is how I’ve sold multiple homes since the 80’s.

[Harold.wiser]

7% mortgage rates equals a buyers market.

[GizmoWhiskers]

I read different viewpoints, is this a buyers or sellers market in TV?
Slow time of the year. I listed my house in June it took 60 days to sell. I would say listing in Sept / Oct is a better time of the year as the snowbirds come down from Oct to May. Not many want to leave their northern paradises until its no longer fun shoveling snow and they can't take the heat in FL during the summer even though heat has no boundaries anymore lol.

[Laker14]

If you have cash in hand, and aren't trying to buy a lottery lot in a new build, it's a buyer's market. Look at the recently (last 3 months) houses sold, on Trulia or Zillow, in the older neighborhoods (anything above 466A is where I was looking, but probably also the case north of 44), and you'll see some nice places picked up several hundred K less than they would have fetched at the height of the post-Covid seller's market. I saw two stretched Gardenias with golf cart garages on golf courses, one a tad under 700K, the other a tad over. Out of my league even at those prices, but those would have likely gone for close to a million at one point.

[maistocars]

IMO, it depends where your house is located and the lot it is located on. If a good location and a great lot, then you'll make quite a bit of money. If not, it is a buyer's market for your house.

[Andyb]

I read different viewpoints, is this a buyers or sellers market in TV?
Definitely a buyers market, I sold a home that took 9 months to sell and a $50,000 deduction in price, well below Redfins estimate value.

[stevecmo]

Does it really matter? In the majority of real estate transactions (residential) the buyer is also a seller and vice versa. So you're either buying AND selling in an up market or buying AND selling down market.

Obviously if you're only buying or only selling it's a different story.

[It's Hot There]

Does it really matter? In the majority of real estate transactions (residential) the buyer is also a seller and vice versa. So you're either buying AND selling in an up market or buying AND selling down market.

Obviously if you're only buying or only selling it's a different story.

Very true.

[Craig Vernon]

It is a sellers' market which is why many are attempting to cash out now as prices are very slowly dropping back to 2021 norms.

[Shelbyh]

I read different viewpoints, is this a buyers or sellers market in TV?

If I had to choose it’s a buyer’s market. The Villages are building so many new homes in addition to resales the numbers are way up.

[Pat2015]

Overall, I still believe it's a seller's market in TV. However, it all depends upon the type of house. If you're looking for a patio villa up to a 3/2 designer with no pool, view or prime location, I feel the buyer has the uppper hand. Anything else, the seller commands the price.
I agree! It depends on the house that’s being sold. If it’s a great lot/view, it’s a sellers market.

[It's Hot There]

It is a sellers' market which is why many are attempting to cash out now as prices are very slowly dropping back to 2021 norms.

If MANY are cashing out, MANY are on the market, a/k/a increased supply......wouldn't that be a buyers market??

[vintageogauge]

Slow time of the year. I listed my house in June it took 60 days to sell. I would say listing in Sept / Oct is a better time of the year as the snowbirds come down from Oct to May. Not many want to leave their northern paradises until its no longer fun shoveling snow and they can't take the heat in FL during the summer even though heat has no boundaries anymore lol.

I thought the same thing when we moved here and in 2017 the 2 highest months for sales were May and July and I think it was the same in 2018. Haven't checked any other years.

[Smalley]

I read different viewpoints, is this a buyers or sellers market in TV?

I feel that it is clearly a BUYERS market. Things have changed dramatically since 2022 when you hardly saw an open house sign or even a for sale sign. The houses sold before they could be advertised. The days on market now are about two months and prices are being reduced. There are several regular youtube real estate updates. One is only 5 minutes long and summarizes the situation well. Good Luck.

[nn0wheremann]

I read different viewpoints, is this a buyers or sellers market in TV?
Balanced market. Not the red hot sellers market of yesteryears, not a fire sale market like in the Great Recession. 60 day market times, price inflation minimal.

[H-ned]

I read different viewpoints, is this a buyers or sellers market in TV?
Even within TV, the answer to your question is significantly impacted by the real estate fundamental, “location, location, location.” For a house that is adjacent to or backs up to a busy roadway or cartpath, or gets lots of noise from the turnpike, or logistically is too far away from everything, it is probably a buyers market. For a prime location house with privacy, low/no traffic noise, easy accessibility to needed services and desired amenities, then it’s probably still a sellers market.

[Normal]

Choice lots and houses are selling, everything else is in marathon mode. It’s probably why the Developer is building what they want in Richmond and releasing the spec homes at their leisure.

[Pixelpups]

Good luck. As much as I liked our VLS “realtors,” they have no flexibility - other departments determine advertising, number of showings, and priorities on listings. Their agents have quotas on how many new homes that they must sell in a month to stay employed. They couldn’t sell our home two years ago in 6 months. Turned to ReMax after trying some winter rental (hated being landlords), sold the house on the first day it was listed.

[Pairadocs]

I’d say it’s a buyer’s market right now. Lots of homes sitting on the market for a long time before selling. Seeing price drops on both new and resale homes.

Definitely appears to me to be a buyer's market. Prices on homes in our village, which is always referred to "as the much sought after village of.....", LOL, they seem to put that in all the ads no matter which village....LOL... but there are "price drops" on every one of them at least once a month. Personally I don't put a lot of stock into "price drops"; that too seems to just be a way of attracting potential buys to a home which may be getting close to the actual "worth". And to me a home, or any object, is "worth" what someone will pay, and NO MORE than what someone is willing to pay. I personally don't believe in the practice of listing a property as high as possible so I can advertise GIANT PRICE CUT once or twice a month. However, many believe in this strategy religiously. So while it does not look like a seller's market to me at present, perhaps it's just the practice of putting an outrageous figure on a property and then begin the long "lowering" practice ?

[Pairadocs]

In the last 6 or so months as interest rates have gone up, the value of most houses in the villages has gone down.

IMHO that makes it a buyers market now but for how long?

I agree with you but..... I'm always perplexed by "value" and "worth". Has the value of our homes actually decreased because people are no longer willing to pay the prices some folks were listing on the homes they were selling ? For awhile I was stunned at some of the asking prices for homes in our village.....then observed how LONG they were on the market. I often wonder about selling strategies. One actual example. Designer on our block. Well maintained, not remodeled up many updates through the years, new roof of course before selling, etc. $489K in December. Just sold, $419K. I was trying to "do the math". Was it really a financial plus to list it at a "I hope I get it" price while you continue to pay amenity fees, accrue property taxes, have utility bills, etc. for 8 months while also paying the same on the place you've moved to ? Or would it be financially astute to just price it at the price you logically expect to get in the end ? People have various opinions on that. During our career moves over the years, we always told the agent we did NOT want to be shown homes that showed a constant pattern of "price drops"; once maybe, but some properties have a long history of drops, some as many as twice a MONTH. But that does not mean they are a buyer's bargain. Probably just over priced to begin with. Tulip Mania anyone ?

[Pairadocs]

It’s a sellers market, both used and especially new. When you have up to 200 people in the lottery to buy a new home, every new home will be sold.
For existing homes, sellers are making good money on a year old home. A lot of people see a “reduction” on their listing and think “the sky is falling” when in fact, the seller is trying to make $200,000 in a year and if it doesn’t sell, they’ll lower the price. It’s only a buyers market when sellers are actually losing money not coming down in price when trying to get top dollar.
I would sell my house by owner since this is how I’ve sold multiple homes since the 80’s.


Totally agree. Have used an agent many times to buy, but have never once listed our home with an agency to sell. We have never considered it "worth" the cost to employ a "middle man" to show our home to prospective buys, but we HAVE had friends and relatives who have experienced paying 6% and MORE to agents who had no objections at all of showing their home to people who had absolutely NO chance of buying the home, not even near qualifying. Had friends whose hired an agent at 6.4% of the selling price and who in return allowed prospective buyers to smoke in their house ! And another who had a valuable pair or earrings taken because the agent who "promised" not to allow prospects to be be in rooms alone, actually did so on a regular basis because they did not want to make prospects "feel" they were being watched as if they were criminals. The agent was more interested in not offending anyone, than protecting the very people who were PAYING the agent ! But, to each their own.

[Stu from NYC]

Totally agree. Have used an agent many times to buy, but have never once listed our home with an agency to sell. We have never considered it "worth" the cost to employ a "middle man" to show our home to prospective buys, but we HAVE had friends and relatives who have experienced paying 6% and MORE to agents who had no objections at all of showing their home to people who had absolutely NO chance of buying the home, not even near qualifying. Had friends whose hired an agent at 6.4% of the selling price and who in return allowed prospective buyers to smoke in their house ! And another who had a valuable pair or earrings taken because the agent who "promised" not to allow prospects to be be in rooms alone, actually did so on a regular basis because they did not want to make prospects "feel" they were being watched as if they were criminals. The agent was more interested in not offending anyone, than protecting the very people who were PAYING the agent ! But, to each their own.

In moving here we hired an agent to sell our home and didnt think she did a lot but did cost us a bunch to use her. If we ever sell not sure what we would do.

[dewilson58]

30 Veranda's in the Eastport area sold in two minutes this week.

[Normal]

30 Veranda's in the Eastport area sold in two minutes this week.

Where at? This is the existing area map and most still show they are for sale two weeks after being put up. No lots have been placed up for sale in Eastport. Maybe you are referring to Moultrie Creek pre bought lots with custom builds?

[DrHitch]

I’m thinking of selling, so what is the right time....


Just hire a realtor, let him/her do the comps.. set a fair price and expect an offer for 15 % less....if you don't want that, then don't list. It's simpler than we all make it out to be.

[dewilson58]

Where at? This is the existing area map and most still show they are for sale two weeks after being put up. No lots have been placed up for sale in Eastport. Maybe you are referring to Moultrie Creek pre bought lots with custom builds?

On (& around) Shallow Creek course.

[vintageogauge]

Just hire a realtor, let him/her do the comps.. set a fair price and expect an offer for 15 % less....if you don't want that, then don't list. It's simpler than we all make it out to be.

If you price a home 15% over what you expect to sell it for you are way overpricing it and it will sit forever. Set the selling price at 4 or 5% over what you expect it to go for.

[ithos]

For existing homes in Brownwood I would say the asking prices are about 10-15% below the peak of a year ago.

I would consider 2008 a buyers market where many home owners were underwater on their mortgages and the market prices were lower than the original purchase price. When prices almost double in 10 years it is inevitable that they will have pull backs.

Sooner or later the dollar will collapse due to the massive government debt and then you will see mayhem.
America's Fiscal Future | U.S. GAO (https://www.gao.gov/americas-fiscal-future)

[mkjelenbaas]

I read different viewpoints, is this a buyers or sellers market in TV?
I wonder if people believe the feedback they receive here? Just saying.

[Ptmcbriz]

Our neighbor in the Village of Hawkins sold her 3 year old Veranda within 5 days. She used a Village realtor. I would say it’s a seller’s market from that.

[Stu from NYC]

I wonder if people believe the feedback they receive here? Just saying.

Depends upon the poster.

[Stu from NYC]

Our neighbor in the Village of Hawkins sold her 3 year old Veranda within 5 days. She used a Village realtor. I would say it’s a seller’s market from that.

Price it to the market and can sell quickly. A house around the corner has been on sale for months.

[MX rider]

Depends upon the poster.

We moved to a bigger home not far from our 2 and 2 we bought 2 years ago. It's been on the market for a couple months with an MLS agent.

We priced it where we thought we should, but have reduced the price since about 4%. Our realtor has been working hard doing open houses, but not sold yet.

She said there's a lot of inventory, which is true. Although we did a number of improvements, we're thinking we may just end up getting what we paid for it or maybe a little more. But we're ok with that.

Our friends just bought a nice home in Fernandia, but there was no shortage of homes for them to choose from.
All that said I think it's a buyers market

[Lanieb]

I agree Lynn but you still have to go thru a realtor to get it on the MLS

[Lanieb]

I have a 2/2 courtyard villa for sale completely renovated in a modern style. Leaving most furniture. Granite in Kitchens and bathrooms.
Pretty landscaping move in ready
Call me on 336 337 5885 if interested
Lanie

[Jayhawk]

For existing homes in Brownwood I would say the asking prices are about 10-15% below the peak of a year ago.



Of course, if you sell at 10-15% lower wherever you buy next will be comparably lower than if you had sold at the peak. Simple economics.

[vintageogauge]

Our 4 bedroom 2,600 sq. ft. Ivy in Fenney will be on the market with TV in a few days at $895,000. It's on water with an excellent view of nature, very quiet and peaceful. We'll see how it goes.

[Normal]

Of course, if you sell at 10-15% lower wherever you buy next will be comparably lower than if you had sold at the peak. Simple economics.

If you sell and then rent, the median value of a home for that interim time period can close or widen from the price you sold at. You may gain spending power, or lose spending power. Home values mostly lag economic movements.

We should be looking at elections, the movement of the Fed and real estate inventory as a whole.

[melpetezrinski]

I agree Lynn but you still have to go thru a realtor to get it on the MLS

Actually, you get on the MLS by simply paying a fee of less than $100.

[Normal]

Actually, you get on the MLS by simply paying a fee of less than $100.

Several places place you on the MLS for a minimal fee, it’s usually around $100.