Home Selling in Fort Collins>Question Details

Todd Spiller, Real Estate Pro in Fort Collins, CO

Will price increases lead to more home listings as sellers realize the ability to pay off the mortgage and cover selling expenses?

Asked by Todd Spiller, Fort Collins, CO Thu Mar 7, 2013

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We've been experiencing a lot of 'STUCK' here in on the west coast of Florida.
Potential seller see nothing they want to buy...and worse...nothing better than where they currently live.So......
....what I am seeing week after week is contractor trucks arriving to update and expand the existing home.
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The area market at this moment is reflecting an almost 1% mobiiity rate. That's not a lot of folks changing addresses. Not a whole lot of upping and downing. A few communites are creeping up on 5%. Even with the addition of the retirees looking ahead, this is a low percentage. Perhaps ithe 5%portends a thaw is in progress. The buyers are there..well kinda. some of them still think it's 2009.
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I beleive that price increases along with increased lending rates will compel folks to bite the bullet. It's a shame. That is what is needed to communicate it is no longer 2009.
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One important thing to note. according to the GAS the wealth of the average American has been restored to 91% of pre-crash levels. This wealth is not held in their real estate. The American economy has never experienced more liguidity. As professionals, we need to be thinking outside the traditional real estate box. One may find a few seminars related to seller financing to be very beneifial. Not only to your business but to the 'profit mind" of the home owner. There are new instruments that merit your discovery.
0 votes Thank Flag Link Wed Jun 5, 2013
Listings are still not keeping pace with demand. Our inventory was relatively low even when the market slowed. It is difficult to guess the direction, but one thing for sure is that when sellers become buyers they have little to look at and are having to pay more. This delays the sell decision.
0 votes Thank Flag Link Wed Jun 5, 2013
I'm certainly finding this to be the case! A lot of my clients who have either felt "stuck" in their home because of when they purchased can now sell and break even or put some money in their pockets.

Best of Luck,

Andy Burnett
ERA
andy@aburnettrealty.com
970-488-9391
0 votes Thank Flag Link Wed Jun 5, 2013
I think we will see an equal amount of people wanting to move up as people wanting to size down. I think we will be in a "stand still" stage for awhile unless everyone decides to go with new construction. Then when they see the increase in what they will pay as to what they are now getting for their money-ultimately they will stay put.
0 votes Thank Flag Link Wed Apr 17, 2013
Ultimately we will see more sellers come into the market, but what year??? I agree with Ben, that there are sellers looking to find the right house but, that is a challenge. Definitely a catch 22. Maybe all the brokers should get their homes on the market to get this wheel spinning--LOL.
0 votes Thank Flag Link Thu Mar 7, 2013
Builders are running out of distress lots and new lot costs are up. Labor, material and soft costs are up (longer build times). New home prices were increased by two of the larger regional builders $3-5,000 this quarter. The patient existing home seller should be rewarded.
0 votes Thank Flag Link Thu Mar 7, 2013
Todd,

That's an interesting question. Sellers really have a lot of control right now. Until builders create more and more homes to offset low inventories, sellers who remain off the market while prices rise have nothing to lose. It will be interesting to see if more sellers begin to list their homes because they can finally see a little appreciation, or if they will remain on the fence until prices rise even more. It'll be interesting to see what happens. The demand is out there. Great question!
0 votes Thank Flag Link Thu Mar 7, 2013
Folks moving up to the higher price ranges are still in the 'sweet spot'.
0 votes Thank Flag Link Thu Mar 7, 2013
The exact reasoning is hard to speculate, but I think we can be fairly sure that price increases will lead to more Sellers. That is the law of supply and demand. When prices rise, sellers that have been on the side lines will fill the void until enough homes are listed to slow the rise in prices.

It may not happen overnight, but it will happen.
0 votes Thank Flag Link Thu Mar 7, 2013
What's up Todd! I hope that is the case, but I am seeing sellers not willing to sell...because what is there for them to subsequently buy???? Catch 22!
0 votes Thank Flag Link Thu Mar 7, 2013
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