I was just talking to a potential seller that called me on the phone today and he asked “Are there any live buyers out there?”. Of course I giggled and said yes there are live buyers out there and there are actually even some realistic buyers as well as qualified buyers.
The thing that’s important to realize is that buyers are cautious and there is so much on the market their perception is that they can keep on looking and looking and looking. In the city limits of Boulder between the price range of $550,000-$750,000 there are 146 homes on the market and 19 of those homes are under contract. Buyers do have quite a selection to choose from. Years ago we would show buyers 5 homes and since that was all they had to choose from they therefore had to choose one. What buyers think now is that they can keep on looking and looking and looking and looking until they find a home the perfect home. The problem is that the perfect home never exists. Live buyers and qualified motivated buyers eventually get real when there is a motivation to move such as the family has grown, they are getting a divorce, they are moving up or down in price, they are relocating into the area or they have had a job promotion and want to take advantage of it (yes, believe it or not, there are actually people getting promoted and getting raises in this market.)
The key is that we are in a price war as well as a beauty contest. Homes, even in beautiful Boulder Colorado, need to be priced correctly in addition to being pretty. Only then will you win the prize of a live buyer buying your home.