Sellers wanting to wait for the market to come back???

Yes, how many times have you heard a potential seller or Expired Listing say they want to wait until the "market comes back." Great excuse but here is a way to overcome that objection.

Basically, you can talk about how every market cycles for about 7 years. In San Diego, this last cycle starting coming up in 1995. But in 2002, our wonderful banking system found a way to make it last longer, which I call the wonderful SUB PRIME discovery. Yes, believe it or not, I feel the banks are due what is happening to them. But that's another story. So, this cycle here as in probably most of the country topped out in 2005. Which means, if you do the math, 2012 is when it will start to rise again topping out again in 2019 provided the banks don't find another way or we forget about 2/28 hybrid-subprime financing.

You can also talk to them about unit volume. Annual home sales for a long time have been about 4.5 million annualy. Then all of a sudden in 2005 there were 7.1 millon in sales followed by 2006 with 6.48 million in sales. You can share this data with a client and ask them, "exactly which market are you waiting for to come back?" It will become obvious to them that they hey day years are an anomoly and that they might not happen again. It may be a long, long wait for the "market to come back."

Happy Production