Buyers for Daytona Beach Homes are Out There

I haven’t posted in a few days because I’ve been really busy with buyers. We weren’t sure if the out of town buyers would make it because of Tropical Storm Fay. But they came. So the weekend and today was spent with buyers from out of town.

In the past week, we’ve had buyers in town from Pittsburgh, Canada and California. Each has a different reason for buying and each has different ideas of what they are looking, but, they are looking for the best value that they can find. I don’t know of any buyer who is not using price as a major consideration in their requirements.

It’s interesting that Daytona Beach homes sellers are pricing their homes higher, sometimes much higher, than they will accept because they expect low offers to come in. What does this mean for buyers? It comes down to this, if you are looking for a home in a certain price range, you should include homes that are priced at least 20-25% higher. So if you’re looking for a $200,000 home, you should include homes that are listed at and over $250,000.

It’s a bit of a game right now and sellers and buyers are going to do a negotiating dance in most cases. A seller who says their price is firm is eliminating a large pool of buyers. This large group is not going to look at a home where there is no negotiation.

One final point about the current market, I have never seen this level of buyer remorse. I have had several contracts cancelled because the buyers just were not willing to go to closing. It’s not hard to understand why. Turn on CNN or any other news outlet and you’ll get a big dose of bad news about housing and the economy. People are very concerned about prices falling further. Buyers and sellers need to protect themselves and there are steps you can take. You must have an experienced real estate agent. In Daytona Beach, Ormond Beach, Port Orange and East Volusia county I can help protect you. Give me a call at 386-566-7503.

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