When a Sequim or Port Angeles homeowner wants to sell, they have one home to sell. When a buyer from California or Arizona is shopping for their next home in Sequim or Port Angeles, they have one and only one home that will become theirs. This is much more than just a play on words, and the implications for both parties is significant.
Each home is unique, unless it is a crackerbox in a Vegas subdivision, and we don’t have those here. Each buyer is unique. The seller is unique. The match of a buyer, seller, and a home is unique. Do buyers care how many houses are on the market, or what the state of the economy is, or how many DOM (days on market) a house has been listed? No, except indirectly if it helps them get a better deal. But even when we talk about a better deal, for each buyer, there is one house they expect to fall in love with and that is the only house they will buy.
For each house that is for sale in any market, including our current market, a seller only needs one buyer who is qualified and finds the home to be the ideal home for them. For each buyer, they are looking for that home that has the precise features they most desire, in an area they find appealing or perfect, and at a price with terms they can afford. All of this makes the general market conditions irrelevant.
When I represent a buyer in drafting an offer, there is only one concern: getting the price and terms this buyer wants. Each transaction is negotiated based upon its own merits, and sellers will respond according to their needs and desires. A seller who is in financial trouble will be more negotiable on the price than a seller who is secure and doesn’t need to sell. A seller who is downscaling to reduce yard work will not be as motivated to sell as a retiree who must sell to move into an elder care facility. Some buyers are on a limited pension with a small down payment and average credit scores, while other buyers are millionaires who can pay cash for a house. Every single transaction I handle is unique.
This is good news on a micro level for both buyers and sellers. It’s not a time to get frustrated or confused. Knowledge, experience, and wisdom can rule the day if reason prevails in one transaction–your next transaction.
Last Updated on July 9, 2008 by Chuck Marunde