It's All About Perception - Denver Real Estate Market Update
Author: Dan PoliminoHi I'm Dan Polimino with coloradodreamhouse.com in this week's market update for the week of August 9th. This week I'm talking about a topic that I'm going to be writing about in my column in the Denver Post in September. It's going to be entitled, "It's All About Perception".
What am I talking about? Well let's use an illustration. Let's pretend it's 2005 and Bill Smith has a home to sell. Tom Jones is they buyer, he puts it under contract and does his inspection. As normal, a number of inspection items come up. Some serious, some not so serious, except in 2005, Tom Jones didn't even look at the inspection items. He could care less. He waives his inspection items and just moves on with the sell of a home.
Now let's fast forward in 2010. Bill Smith selling a house, Tom Jones is the buyer, he puts it under contract, goes to inspection. And sure enough, Tom Jones ends up terminating the contract on inspection items. You see this scenario is being played out in awful lot as of late. More and more homes are being terminated, the contracts are being terminated on inspection items. Why? What's the difference between 2005 and 2010? It's very simply perception, and that's all. And the reason why that's all is, are the homes in any more disrepair in 2010 than in 2005? Were the homes in better shape in 2005 than they were in 2010? No. It's the exact same home with the exact same issues and the exact same items.
The difference is, the perception by buyers is that "I have the seller over a barrel. I have all the power, I have all the leverage, I'm going to get everything I want and more. And if not I'm going to terminate and go some place else."
I don't think anybody would debate that those are the two perceptions from '05 and '10. The problem is if we're going to have real recovery in the real estate market, we have to get back to a more equitable perception. We've got to get some balance back in the market. That's the only way we're going to have real true recovery.
Okay, if you have any questions about buying or selling a home, feel free to contact me at coloradodreamhouse.com. Have a great week!
Article Source: http://www.articlesbase.com/news-and-society-articles/its-all-about-perception-denver-real-estate-market-update-3017342.html
About the AuthorDan is a premier internet marketing and online real estate marketing expert. In fact, he works as a consultant and teaches other real estate agents about using the latest technology for real estate business. Dan also speaks professionally to companies such as ReMax, Sotheby's, and Hilton on Internet marketing.
A member of the Denver Board of REALTORS, he has bought and sold Denver real estate - for his clients and himself - for more than 12 years. Dan produces a well-known Colorado real estate blog and writes a regular column for The Denver Post.
His professional sales and marketing experience spans 26 years in Denver, New York and Florida. Dan holds a BS degree in Broadcast Journalism and Psychology from Syracuse University. He is married and has two children. Fitness and health, running, skiing, and golf are his favorite hobbies.
Working with Dan Polimino and his Colorado real estate team affords clients an unparalleled experience. He limits his client roster to small groups of buyers and sellers at any given time so that each client gets his undivided attention. Known as a "bulldog" during negotiations, Dan makes it a priority to get his clients what they want. Plus, he goes the extra mile to create opportunities through strategic networking, online marketing, and innovative ideas to connect buyers and sellers.