October 2005
It's a bubble. It's a boom. No! It's a normal market.

A normal market what is that?  Let's copyright this phrase. It's been 9 years going on 10 that the market has taken off like a rocket, seemingly straight up with no end in sight.

As many as 64 multiple offers at times.  With Sellers in the driver's seat, buyers were either dancing to the right tune, or they were discarded like chocolate wrappers after the ball game.

Of course articles abound now describing a doom and gloom scenario.  "It cannot last much longer" they say.  "Cycles we know go up, and therefore this one must come down." "There will be another real estate recession." "Prices are dropping like rotten apples."

The reality is slightly different.  Buying and selling real estate is here to stay. There are weddings, divorces, new babies, and empty nests. Needs abound. A real estate investment, in addition to the enjoyment and benefits of ownership, continues to be very valid and very profitable.

So what's the difference?  Let me count the ways…
1. Buyers no longer feel pressured to buy a piece of property at any cost.
2. Buyers have more choices since as there are more properties on the market.
3. Buyers are very aware if the price is right or not.
4. Buyers now will not buy a property just because it is offered for sale.
5. Buyers sense there is a change and that they have more leverage.

Is there a remedy?  Have Sellers lost the golden opportunity? Yes, and no.

In a Normal Market, where we are right now, the opportunities lie in focusing on attitude, pricing strategy, and negotiations. Ugh! how do we do that?

First it is important to be aware and adjust quickly to these changes. Here are a few pointers:
1. The negotiations are more a cooperation between all parties involved, rather than adversarial.
2. The saying "It's my way or the highway" is no longer operative.
3. Look at the true price of the property that just sold, not the multiple offer price.
4. Choose a Realtor who is a great negotiator.
5. Choose a Realtor who is all about marketing and networking with other agents.

I firmly believe we can still get the highest price for your property. Call me at 310-442-1607 so I can show you how.

Sanda Alcalay, Realtor with Coldwell Banker Previews in Brentwood California, is solely responsible for the content of this article.

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