This time of the year always brings the ultimate Fall Standoff between Buyer and Seller. On one hand, the Buyer wants to buy a certain property, but sees price reductions happening, so does he wait and hope a price reduction will happen and risk losing the property or just go ahead and buy? On the other hand, the Seller wants to get her property sold at the highest price, but sees her competition dropping their prices, so does she hold strong believing that the right buyer will walk through the door and risk missing the Fall market or drop her price and give herself better odds of getting her property sold? What to do is definitely a case by case situation. However, in general, if you are the Buyer and it is the perfect property, pull the trigger. If it is not the perfect property, but you’d be happy with it, at least make an offer so the Seller knows you are out there; you may get lucky and the Seller accepts it, but, at the very least, the Seller knows you are out there – maybe she doesn’t find another buyer and comes back to you ready to accept your offer. If you are the Seller, depends on activity. If you have no activity, make the adjustment. If there is activity, hold tight, but let your broker know you do not want to own the property in the New Year.
Big day today – scallop season opens!!!