The Burke & Co. Weekly Market Report for Avalon, Sea Isle, and Stone Harbor– Week ending January 23, 2021
We’re not generally ones to complain, but it’s a tough time to be real estate agents. The public seems to think we’re all getting rich and buying lambos and doing business on Easy Street. The reality is much different. Real estate agents best opportunity to thrive is in a balanced market with plenty of opportunity to help buyers and sellers find each other. In this highly competitive market, those numbers of possible transactions actually decrease.
However, that’s not the reason we mention our difficulty right now. We’re big boys and girls who bought the ticket and signed up for the ride that comes with the up and down roller coaster of a 1099 carnival amusement park existence. It is very tough, though, working with buyers in this environment. The multiple offers, the rising prices, the sellers cancelling out of contracts using attorney review clauses to take other offers… All of these things combine to make for an often frustrating and eventually depressing experience for buyers. Trying to lift deflated spirits, keep eyes on the prize, and continually re-introduce some hope (while personally working longer and harder than ever with fewer actual results) is a tall task.
We at Burke & Co. remind each other that “We’re Grateful To Help Good People” and it can be emotionally draining to see those good people with big seashore dreams find it so difficult to make them a reality.
Three weeks into January and 2021 and the “spring” market that starts here on New Year Day it’s no pleasure to have to be the bearer of bad news. At least by early indications, to those buying troops on the ground the message is this: The cavalry is not coming. Agents had hoped– and expressed hope– that sellers might respond to this incredible opportunity and show up en masse. We prayed we’d see some influx of inventory as the year started and the spring progressed. That is not– at least so far– materializing.
The reason most often cited by current home owners when asked about selling reveals this condition is partly the result of a chicken-and-egg-style-cycle. Owners do not want to list and sell because they don’t see where they would then find their next vacation home. In a more balanced market, we often see shore home owners realize gains in property values by selling and “moving up” to newer or bigger homes or homes closer to the beach or bay. Owners right now do not think they can find that opportunity.
This might be one of the greatest periods in history to sell a home, perhaps especially a second home or vacation home. If you are considering it, we’d love to discuss the enormous potential and possibility.
If you are still looking to buy, don’t give up hope. And reach out to us. Since January 1, we have managed to connect three buyers to sellers with special circumstances that made them not even want to list. That’s right, we can sometimes find our clients homes that are not even on the market. We love to help and will do everything in our power.
If you are ready to start your plans to buy or sell, call us at our team line at 609-478-0333 or email [email protected]
And of course, take a look at all of this weeks new listings, under contract, and sold homes with these links.
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