Sell now or bring the pain? What are sellers doina cross the county?

[Joel Owens]

So in my market Georgia I get contacted by many sellers.Had one tonight that owns 7 properties.

Did an analyses for them and the solds were at 19-25 sq ft.They had older houses they put money into built in the 60's and 70's.

Sadly they are trying to compete against a wave of recent bank foreclosures built in 2004 and newer.

They appreciated my help but said they will wait to find the right buyer who will pay what they have put into the property.They said market is improving.I showed data that SALES are improving but price is flat to declining as banks put more inventory on the market.

So the seller will endure 3 more years of pain waiting to get their money back.I venture they will give up somewhere along the way.

I told them to try and sell owner finance with some down to offload them having to manage the property and get cash back in the deal.They own free and clear.

So this is what I am seeing is get what you can now or accept you will have a headache for years and years to get to a point where you feel you get enough.

What have you been seeing from sellers??

[Albert Hasson]

18 months ago here in Phoenix I was was listening tol the housing pundits predicting doom, gloom and additional steep losses in housing prices. Lo and behold, we are now at pricing not seen in over two years. We are up at least 15% from the bottom. Point is things can change quickly. If it can happen here, the poster child along with Vegas and S. Florida for the housing collapse, it can happen anywhere.
Joel, if sales are improving in Georgia its just a matter of time before pricing improves.