Where are the buyers?
Think that buyers aren’t buying?
I think it is safe to say that SOMEONE has resources at their disposal to make huge purchases.
After four months on the Beverly Glen real estate market in California, Ashton Kutcher’s bachelor pad sold June 28 for $2,350,000. The 4-bedroom, 5.5-bath home was originally listed for $2,600,000 in February.
Oh sure, his celebrity status surely did help the marketing efforts, but someone had the resources to buy this property!
Buyers are out there. The market is not completely dead. There just seems to be an extremely wide void between the types of buyers that are keeping the housing market moving, even if at a slower pace.
We are seeing buyers on both ends of the buying spectrum, very low or very high. In the before mentioned scenario, VERY high. The lower end buyers are now shopping in the $100,000 to $250,000 range and looking for “deals” or fixer uppers.
This is aiding the foreclosure market to cleansing itself, and clear out inventory, since we are seeing the foreclosures coming in listed upwards of $150,000 depending on the extent of damage they have incurred and the estimated amount of repairs needed to bring the property back to good condition.
All that said to say this, the market is not dead. It has only made a transition that may be hard for some to follow. Mostly property sellers. They have a difficult time coming to grips with the fact that their once $450,000 rental cabin in the Great Smoky Mountains of East Tennessee is now showing a retail value of $250,000. The overnight rental cabins for sale in or near Pigeon Forge have flooded our local market. Many rental cabins for sale in Sevierville-Pigeon Forge-Gatlinburg, TN are short sale properties where they are willing to sell for much less than is owed against the property. Vacant land for sale in TN is also on the foreclosure/short sale block and is twice as hard to move than a site built structure due in part to lending restrictions.
If you are looking for property for sale in or near Pigeon Forge, Sevierville, Gatlinburg, Kodak, Seymour,Townsend, Maryville, or Newport, TN just give me a call and I can locate exactly what you want.
F-eel free to search the MLS on my website at www.michelebryan.com
865-898-5408
I think it is safe to say that SOMEONE has resources at their disposal to make huge purchases.
After four months on the Beverly Glen real estate market in California, Ashton Kutcher’s bachelor pad sold June 28 for $2,350,000. The 4-bedroom, 5.5-bath home was originally listed for $2,600,000 in February.
Oh sure, his celebrity status surely did help the marketing efforts, but someone had the resources to buy this property!
Buyers are out there. The market is not completely dead. There just seems to be an extremely wide void between the types of buyers that are keeping the housing market moving, even if at a slower pace.
We are seeing buyers on both ends of the buying spectrum, very low or very high. In the before mentioned scenario, VERY high. The lower end buyers are now shopping in the $100,000 to $250,000 range and looking for “deals” or fixer uppers.
This is aiding the foreclosure market to cleansing itself, and clear out inventory, since we are seeing the foreclosures coming in listed upwards of $150,000 depending on the extent of damage they have incurred and the estimated amount of repairs needed to bring the property back to good condition.
All that said to say this, the market is not dead. It has only made a transition that may be hard for some to follow. Mostly property sellers. They have a difficult time coming to grips with the fact that their once $450,000 rental cabin in the Great Smoky Mountains of East Tennessee is now showing a retail value of $250,000. The overnight rental cabins for sale in or near Pigeon Forge have flooded our local market. Many rental cabins for sale in Sevierville-Pigeon Forge-Gatlinburg, TN are short sale properties where they are willing to sell for much less than is owed against the property. Vacant land for sale in TN is also on the foreclosure/short sale block and is twice as hard to move than a site built structure due in part to lending restrictions.
If you are looking for property for sale in or near Pigeon Forge, Sevierville, Gatlinburg, Kodak, Seymour,Townsend, Maryville, or Newport, TN just give me a call and I can locate exactly what you want.
F-eel free to search the MLS on my website at www.michelebryan.com
865-898-5408
