“The Mexican Stand Off”
That old expression comes to mind when I think of our local Niagara Real Estate Market during this delightfully warm January. Visualize the Buyer standing down at one end in the middle of the street. The Seller is at the other end, both with their hands beside their waist, ready to pull the trigger when the price feels right.
Us Real Estate Agents are the “Sheriffs” in the middle of this duel.
We are trying to keep both parties calm and engaged and excited that a deal can be done, value can be determined by BOTH parties, and the next chapter for both Buyer and Seller can start to be written.If you are a Buyer waiting for prices to keep falling, you may have to wait a very long time to find that elusive Seller who is willing to sell below their home’s value. If you are a Seller, you have a desire to realize the true value of your home.
But what is that value today? January 2023. That is the million dollar question.
Can the value be determined in isolation? In other words, because you feel your home would have sold for up to 30% more in 2022, can you have that expectation now? Well, our answer is Maybe Yes and Maybe No. We find ourselves back to basics. If your home has Location, Location, Location going for it. If it has features desired by MANY Buyers and MANY Buyers is key here, then there may still be demand for your property at a perceived inflated price in January’s market.
But if your home is “standard”, in a good but average location, you have to check your expectations. Your property will be strongly scrutinized and subject to the whims of Interest Rates, similar competing houses and Buyers ready to do battle.
Never has there been a more important time to hire a “Sheriff” for your negotiations. Will, Matt and Sally Miller of Miller Group Properties are ready to meet you in the “Street”!
Call, Text or Email Them Today and let us help you whether you are Buying or Selling any where in the Niagara Region.
Copyright Miller Group Properties 2023.