I'm back to Corvallis, Oregon for a new adventure after 14 years as a scuba instructor/Coast Guard licensed boat Captain/dive company owner in Kona Hawaii. This blog will be a combination of my real estate work life and my personal adventures in Corvallis, Albany and the surrounding world. Feel free to join me on these new journeys.
Keller Williams Mid Willamette real estate agent
Steve Frisbie is a licensed real estate agent in the State of Oregon. REALTOR®. Equal Opportunity Housing Provider. Each office is independently owned and operated.
Saturday, April 18, 2020
Homes are still selling in Corvallis and Albany....
The uncertainty the world faces today due to the COVID-19 pandemic is causing so many things to change. The way we interact, the way we do business, even the way we buy and sell real estate is changing. This is a moment in time that’s even sparking some buyers to search for a better deal on a home. Sellers, however, aren’t offering a discount these days; they’re holding steady on price.
According to the most recent NAR Flash Survey (a survey of real estate agents from across the country), agents were asked the following two questions:
1. “Have any of your sellers recently reduced their price to attract buyers?”
Their answer: 72% said their sellers have not lowered prices to attract buyers during this health crisis.
2. “Are home buyers expecting lower prices now?”
Their answer: 63% of agents said their buyers were looking for a price reduction of at least 5%.
What We Do Know
In today’s market, with everything changing and ongoing questions around when the economy will bounce back, it’s interesting to note that some buyers see this time as an opportunity to win big in the housing market. On the other hand, sellers are much more confident that they will not need to reduce their prices in order to sell their homes. Clearly, there are two different perspectives at play.
If you’re a buyer in today’s market, you might not see many sellers lowering their prices. If you’re a seller and don’t want to lower your price, you’re not alone. If you have questions on how to price your home, let’s connect today to discuss your real estate needs and next steps.