Blogging Tulsa Real Estate: When to Cut Bait with Buyers

When to Cut Bait with Buyers

The absorption rate in the Tulsa area is continuing to drop.  We have been moving towards a seller's maket in Tulsa for the past year.  Once we hit a six-month supply of houses on the market, we will no longer be in a buyer's market.

Sellers are getting it.  They have been watching their home prices rise in Tulsa over the past year.  They are holding out and waiting. 

Sellers are watching their home values increase and it's taking less time to sell.  Even the luxury properties are moving.

It's especially a seller's market in midtown Tulsa, if the house is priced correctly.

There are also fewer horse properties, equestrian estates, farms and ranches available for sale in Northeast Oklahoma, especially in the affordable price ranges with less than 20 acres.

With the drought, we are seeing more and more cattlemen from Texas and New Mexico coming in to buy pasture.  There really aren't that many bigger properties on the market in our area.

It's a great time to sell, because the buyers are out in force and they are scrambling.

If buyers aren't ready to go with pre-approval letters from local banks and / or proof of funds letters, then they are not serious about getting that perfect property when it becomes available. 

Make sure your REALTOR insists on buyers being qualified to purchase the property before they come to look at it.  Otherwise, they are wasting everybody's time.   Insist on it.

Also, need I remind you that if you are looking to purchase land in Oklahoma, make sure you work with a REALTOR who understands land.

Buyers who dilly-dally make problems for themselves often. 

 

Don’t get me wrong.  I understand the search for the perfect house.  This is where buyers will live, and they will pay for for quite some time.

 

I get it.

 

But, the perfect house doesn’t exist.  Ask anyone who has built one, like me, for instance.

 

If buyers continue to hem and haw, if they have to bring every living relative along to approve the purchase and then start bringing the friends who know plumbing, electrical and construction, you have a problem. 

 

And so do they.  Every visit to a property lessens the negotiating power of a broker or agent to present a fair offer that is favorable to the buyers. 

 

My strategy is to look at eight or ten properties and then find one UNLESS, none of those properties is optimal for the buyers.  But, normally, out of ten properties in our area, one will be what they are searching for in price, condition and location.

 

Playing a waiting game in this market will guarantee you will lose….nearly any property that has interest.  Other buyers are searching, too.  Some of them will make offers at or above list price to get what they find to be a “good buy.”

 

Don’t be a tire kicker.  If the seller believes that the buyers are interested, the seller might be more interested in a quick but fair offer rather than another offer.  The more days on market generally means a lower net for them in the long run, too.

 

Take the reins, buyers.  This is no longer a buyers’ market.

 

Don Sabinske, Broker, GRI

www.donsabinske.com

Sabinske & Associates Inc.

763-350-7960

 

Debbie Solano, CRS, ABR, CDPE, CHMS, e-PRO, GRI, REOS, SRES
Coldwell Banker Select, Realtors -- Land & Ranch Division
4408 S. Harvard Avenue
Tulsa, OK  74135

Office:  918-712-4473

Cell:  918-724-8201

FAX:  918-712-4310

 

Tulsa Short Sale Agents

Midtown Tulsa Real Estate

Midtown Tulsa Real Estate

Oklahoma Land and Ranches

Oklahoma Horse Properties

Tulsa Real Estate Web

Northeast Oklahoma Real Estate

Blogging Tulsa Real Estate

Cancun Beach Vacation Villa Rentals

Riviera Maya Beach Vacation Villa Rentals

 

View Debbie Solano's profile on LinkedIn

Facebook Buttons By ButtonsHut.com

 

Comment balloon 7 commentsDebbie Solano • January 26 2013 06:16AM

Comments

I had a client in Tulsa ask me about listing a horse ranch last summer!  It's good to know of someone who specializes in it, and right here in Tulsa!

Posted by John Regur, Branch Manager, Hamilton Group Funding NMLS#831824 (Hamilton Group Funding, NMLS#831824) over 4 years ago
Informative post you have here Debbie that talks about the real estate market in Tulsa. Thank you for reminding buyers to make sure to work with a qualified and experienced Realtor who knows the land. All the best and keep up the good work.
Posted by Katerina Gasset, Get It Done For Me Virtual Services (Get It Done For Me Virtual Services ) over 4 years ago
Excellent choice for a repost Debbie. Thank you for sharing and keep up the excellent work.
Posted by Petra Norris, Realtor, Lakeland FL Homes for Sale (CDV TransAtlantic, Inc.) over 4 years ago
Hi Debbie, if one is looking to buy a property land in Oklahama, you are definitely the best person to recommend. All the best and may you have a prosperous 2013.
Posted by Melissa Muse Wiggans, CRS, GRI, ABR - Real Estate Muses (Real Estate Muses) over 4 years ago
"Make sure your REALTOR insists on buyers being qualified to purchase the property before they come to look at it.  Otherwise, they are wasting everybody's time." Well said Debbie.
Posted by Erika Rogers, St George Utah Real Estate & local info. (Red Rock Real Estate) over 4 years ago
Well written post Debbie that provide details on the current real estate status in Tulsa. Thank you for sharing and stay the best real estate specialist in Tulsa.
Posted by Waynette Hoover Araj, Connecting your Dreams with the Right Real Estate (Keller Williams Realty) over 4 years ago
A repost that is worth sharing! Thanks Debbie, hope you have a fruitful 2013.
Posted by Pat and Ed Okenica, Lake Oconee Ga Real Estate (RE/MAX Agents Realty Lake Oconee Ga) over 4 years ago

Participate