Most Lake Martin real estate observers now recognize that the sellers’ market is over, because all real estate is local. In fact, we are in a buyers’ market. For those who are in doubt – a buyers’ market means that the buyers have the advantage – IT’S A GOOD TIME TO BUY.
Market forces in real estate shift back and forth like any other market in free nations. We can learn about what might happen in Lake Martinby lookingat other markets – like one of the most high end markets in the nation – Silicon Valley.
Recently I came across an excellent post by Patrick Kapowich on his blog – Silicon Valley Broker. He covers some excellent points about different parts of the real estate market cycle. We at Lake Martin would do well to read and learn.
I love his first sentence describing the changes in ‘Cycle One of a Buyer’s Market’ – he says (talking to buyers) – “Listing Agents return your calls.” Hilarious, but true! Great work, Pat.