You Can’t Count Your Eggs In This Market
August 24th, 2009 | categories: Coconut Grove Real Estate
My Coconut Grove sellers had a good weekend, four of them received offers on their homes. In a healthy real estate market I would be optimistic that the offers would come to fruition. But in this market, you can never count your eggs before they are hatched.
Even if we are able to settle on a price, I have had $2,000,000 worth of signed, sealed and delivered contracts fall through in the last 2 months.
Buyers these days seem to be a little apprehensive and are easily scared off even after they have agreed upon a price. Between appraisals, inspections, and genuine buyer’s remorse you are truly never sold until you exchange keys for cash.
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Both buyers and sellers have to be a little more flexible in making the deals work. Many thing have to be done after the contract is sign to get to closing. Inspections and appraisals are 2 items that really no one has any controll over. I am finding that for whatever reason, both buyers and sellers are digging in their heals and not looking at the big picture, which is to close the deal.