Home Selling in Cleveland>Question Details

Isabel Elses…, Real Estate Pro in Alpharetta, GA

New President !

Asked by Isabel Elsesser, Alpharetta, GA Fri Nov 2, 2012

I am hearing that many sellers are waiting for after the election to list their homes for sale. If the current administation is still in place, than owners will just stay put. What are you hearing ?

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Elizabeth Bolton’s answer
Haven't heard any such thing in my market. Seems like a very odd thing to factor into the decision to sell or not. Though our inventory is way too low - and demand high - I'm certainly not expecting nor hoping for a Romney administration to change that. Been there, not going there again.
2 votes Thank Flag Link Fri Nov 2, 2012
Haven't heard that at all.

Are they really expecting that, if Romney is elected, that home prices instantly will go up? Or that if Obama is reelected that prices won't change significantly?

Oh boy!

Those sellers need to be educated on what factors contribute to a rise in home prices, and which factors don't. That can all be done without getting into politics.
2 votes Thank Flag Link Fri Nov 2, 2012
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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Anyone paying attention to our politics of the past 50 years should be able to appreciate how little one individual can accomplish without the support of others.

I'm hearing that people are waiting too.....why? I can't quite understand......
1 vote Thank Flag Link Sat Nov 3, 2012
ALL sellers? Wow.... You're hearing a lot of things down there! Thanks for posting in the Cleveland, Ohio market, we're just fine here! Real estate market is moving along nicely. Seeing great growth. It's actually a good market right now for buyers and sellers. Record low mortgage rates, homes moving, prices still low but climbing. Good market for all, actually.

Perhaps you should let ALL the sellers in Georgia know how busy you are with buyers! Maybe they could have had their home sold already!
1 vote Thank Flag Link Fri Nov 2, 2012
The foreclosure and equity issues along with the crazy mortgage bubbles started well before 2008.... hello! I'm sure if you were an agent in 2004, 2005, 2006 and 2007, you sold homes stated income, etc. It was what we did at times and how it was done. Most all banks and brokers had a program for it. You should definitely seek the answers from that administration and era.

You said ALL the sellers in Georgia were waiting to sell due to the next president?! Now you're saying they can't sell because they don't have jobs and have no equity? Which is it?? Best of luck to you and your clients. I will pray for you all.
Flag Sat Nov 3, 2012
Most all seller cannot sell due to all the LOST equity, with all the foreclosures in there neighborhoods. (No JOB cannot pay mortgage) If they would have stopped the foreclosures and shorts sales along time ago, when the banks got the bailout! Hello!
Flag Sat Nov 3, 2012
The market is busy here with buyers.....all sellers are waiting to see what happens.

I also heard that banks are holding back inventory until January.

We do not see seller confidence.
1 vote Thank Flag Link Fri Nov 2, 2012
I'm hearing that exclusively from real estate agents and brokers. Come every election, there's one person telling everyone they know that if the wrong person wins, they're packing up and leaving the country.

Every election, half the country is relieved; half the country is in deep despair. But, life goes on, and the effects of the election will not be felt on the inventory for at least several months.
0 votes Thank Flag Link Sat Nov 3, 2012
Not hearing that at all. Here in Northeast, Ohio, home sales and prices are up. The market is on the rise, and we're seeing many getting ready to get their home on the market. Many homes are selling in less than a month. Things are actually increasing and looking up! Good news on the real estate front.
0 votes Thank Flag Link Fri Nov 2, 2012
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