🎥 Housing Market 2018 – Why Are Homes NOT Selling? Is It a Buyers Market?


Hello everyone. This is your Tampa Bay Realtor Lance Mohr and in this video I want to talk about questions I get all the
time and that’s is it a buyers market why your home sitting on the market so
long and not selling so in this video I want to talk about the housing market in
2018 and address these questions so probably once twice every week I get
the question is it a buyers market and I say well no it’s a seller’s market if
you look at the statistics the inventory is very very low
the demand is very very high and then the buyer will ask they’ll say well why
are homes sitting on the market I look at my neighborhood and I see this homes
been on the market 78 days or I go over here on the home spend on the market
fifty days or 120 days and really what it comes down to is this it comes down
to the price this is what I see in our market in Tampa and I’m sure it’s like
this in a lot of areas the United States right now the sellers know it’s a
seller’s market they know the inventory is low they know there’s a lot of buyers
out there looking and what they’re doing is a lot of them aren’t really that
serious about selling and they’re basically just going out saying you know
what I want to sell my home have equity in it let’s put it on the market maybe
it’s worth three hundred thousand but we’ll put it on the market for three
hundred twenty-five thousand and I’ve actually gone out to some sellers homes
and I hear stuff that it’s actually quite amazing like well maybe we’ll get
someone from New York in there paying cash and they’ll buy my home which is
ridiculous by the way but they actually say that or I’ll get them saying well
look I know what these homes over here sold for I don’t really care about those
homes over there my home is better than theirs and my home’s worth this and if
someone wants to buy in my home this is what price they’re gonna pay yeah it
just doesn’t work buyers are sharp right now buyers aren’t just looking at one to
two homes they’re looking at multiple homes they know what’s going on and they
don’t get fooled into that game so the question is is it is a seller’s market
and actually if you haven’t seen my housing market statistics I do them
every month I’ll put a link up here to my house see market statistics and you
could take a look at them because if you’re trying to educate yourself and
you’re trying to find out what type of market it is the first thing you need to
do is you need to look at the statistics you need to talk to a real estate agent
that knows but we do have very low inventory in the
Tampa area we do have a lot of buyers that are wanting to buy I go out there
with buyers we’ll look at a home and the sellers just overpriced of course their
home is going to stay on the market everything comes down to price it’s the
common denominator if the seller wants to go get a real estate agent that’s not
going to do any marketing well no one’s going to know the homes for sale they’re
gonna have to take less of a price if they don’t want to condition the home
and get it ready to be sold and actually get an in condition to be sold like a
model home they’re gonna have to lower the price or if they over price the
property example if it’s worth $300,000 and they price it at 325 and then they
lower to 320 then 315 then 310 then 300 by the time they learn to do 300 the
homes probably shocked warm it has a negative vibe to it
a lot of people don’t want to buy a home that’s been on the market a hundred days
or 200 days or whatever just because they think what’s wrong with it doesn’t
it need anybody else wanted so price is always the common denominator so to
answer your question certainly in Tampa and most all of Florida and a lot of
parts of the US right now the housing market is very good consumer confidence
is real high there’s a really low inventory in our market like a lot of
markets but you really need to look at the big picture of everything don’t
worry if a home owner house their home in the market in our market if a home’s
let’s say at $300,000 and it’s still on the market 30 days it’s overpriced for
one reason it’s either overpriced price they hired an agent that doesn’t know
how to market or they don’t have it in the condition that justifies the price
so that’s really it if you like these videos subscribe to my channel I love to
have you as a subscriber if you like this video do me a favor give me a
thumbs up and if you have any questions or anything or any input put it in the
comments below I appreciate you and I hope you have a wonderful day thank you you

50 thoughts on “🎥 Housing Market 2018 – Why Are Homes NOT Selling? Is It a Buyers Market?

  1. To answer ,people here are not using realtors,in our area ,folks are doing their own selling an marketing,sadly realtors have created their own slow market here .Because in this market they are very poor at marketing their services.Just one mans opinion

  2. Lance, once again spot on info. The wife and I see many homes for sale in our area and we visit some open houses and, many sitting on the market in our area south of Tampa are priced a bit on the high side not outrageously high but, high nonetheless. The killer is, many of these homes are 12 – 15 years old and the sellers in many cases have done nothing to maintain their condition. They have the same builder grade appliances, cabinets, lighting and carpeting they had when first built and these people seriously think they should get top dollar for them. They are delusional.

  3. The subdivision we moved out of last year has had four houses up for sale. 3 of them were off the market in one to two days. Live in northeast indiana. All of them were right in the same price range we sold for. So they were all priced right. I seen a report on tv where a normal market where I live is around 2000 homes for sale. We are at around only 500.

  4. Those are ugly not well cared for houses. Old but clean houses still sell quickly here in my neighborhood. Most of them right after open houses.

  5. Great video. We got out of the market because everything in my budget was condos, and what I want is too expensive. Mobile homes suck because of lot fees.

  6. There is a shortage of decent homes under 300,000 but there is a huge glut of homes that are outdated, ugly and way overpriced that are stagnant listings clogging the market in Orlando and space coast. I've watched the same 50 homes pull tricks, delisting and relisting and taking new photo when the facts are, it's overpriced, outdated by 20 years and sellers can't feel the market is slipping always as we speak. Buying and selling sucks, no one enjoys the process but sellers have to remember, this isn't Silicon Valley and avg median household income can not support their fantasy asking prices.

  7. Here in "hot" WA state, I am getting a lot of "price reduced" alerts during the spring buying season. Not a good sign. And yet RE agents are always saying "it's a great time to buy" to buyers and "it's a great time to sell" for sellers. I guess if I were a transaction parasite, I would feel that way too.

  8. Just sold two houses in the southwest. Both were totally remodeled this year. I tried to ask about 10% above market and no one would bite. After a month, I lowered them to right at market and got multiple offers in three days. I agree, there's strong demand, but the buyers are afraid of paying too much. And they know the market prices very well.

  9. The answer is simple “Price!! “ Greedy people thinking their houses are worth more than they are!

  10. “Why are homes not selling in 2018?” theres not enough homes in California. They get snatched like hot cakes. prices are going up like crazy.

  11. Hi Lance. My husband and I are looking for a new Pulte home in McKinney, Tx. Do you know any reliable realtors to help us on choosing our first home?
    Thank you

  12. 33629 Home Prices & Values
    ZILLOW HOME VALUE INDEX
    $546,300
    11.8% 1-year change
    6.7% 1-year forecast
    Apr 2017
    May 2018
    Apr 2019
    MARKET TEMPERATURE
    VERY COLD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    Buyers' Market
    Sellers' Market
    The median home value in 33629 is $546,300. 33629 home values have gone up 11.8% over the past year and Zillow predicts they will rise 6.7% within the next year. The median list price per square foot in 33629 is $292, which is higher than the Tampa average of $183. The median price of homes currently listed in 33629 is $689,000 while the median price of homes that sold is $458,000.

    Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 33629 is 0.7%, which is lower than the national value of 1.6%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 33629 homeowners underwater on their mortgage is 4.6%, which is lower than Tampa at 11.4%.

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  13. This is sound information. Thank you for sharing this. I recently entered the Home inspection business and am looking for real estate agents to work with. The issue I'm finding is sales are down here in the Orlando area. This is quite possibly the main reason. By the way if anyone needs a reliable inspector in the Central Florida region including Tampa give me a call. Thanks again for sharing! 407-969-9589

  14. its not a sellers market when you have to lower your prices in order to compete with other sellers.

  15. in naples area date on the market has risen from 4 months last year to close to 8 months this year. according to your interpretation thats a sellers market

  16. You should see the housing market in Miami-Dade County, FL and Broward County, FL everyone here thinks their run down shack from the 1980's or older is worth $250,000+. I remember areas where houses were 150k-180k 3 years ago and now in those same areas people are trying to sell houses that were 150k-180k 3 years ago for 250k+ today in 2018.

  17. Interesting and informative. What do you think of a market where listings are going down quarter to quarter ? Is it that sellers think they'll get a better deal if they wait it out? Do agents recommend waiting to sell sometimes ?

  18. So glad I found youre channel, great stuff. I live in Central FL and im looking to buy my first home and I feel like its impossible.

  19. I live 30 miles west of Daytona beach, 2/1 800 sq ft. no garage homes are going for $140,000! some of them need roofs, ac's and septics. Im so aggravated I feel like i should wait till prices come down but every time i wait they go up more. There is a serious lack of affordable homes in my area. So many homes have been neglected because of the economic crash of 2008 that only investors can buy them cash. Anyways looking forward to watching more of youre videos.

  20. Am also from the Tampa Bay Area hoping the market will shift from sellers to buyers do you have any updates when the shift might occur thanks

  21. This guy is giving you people false information. Real estate is about to crash hard. Go read the Bloomberg Report if you want the truth about the market.

  22. Im in Se Fla and the real estate has been booming for the last 6 years — Add to it the hedge funds bought up a lot of glut in the last crash — One hedge fund in my area owns 1400 homes in PBG that it rents — Ive seen a lot of inventory and some real pie in the sky prices as compared to closings of the same model in the same neighborhood (most SE Fla real estate are developments where you have a handful of models so it is easy to make apple to apple comparisons with price) — I call these prices the "make me move price" — As he said not really a serious seller — just someone baiting a hook hoping for a sucker — and if they find a sucker — guess what — that resets the price upward for those models —

  23. When does the market shift on average from buyer to seller markets? I know there is no one answer but is it years, within months or even weeks? If it's long between fluctuation, it seems pointless to pay rent then end up paying pretty much the same in the end when it finally comes back to a buyers market.

  24. Banks and lending company's will not sell to low income people (hence social security). That's like 75 percent of Americans. So the houses will just set empty.

  25. As of now there are 1333 houses for sale in Tampa FL. There are 37 foreclosures and 439 pre-foreclosures. Inventory is growing fast and exponentially.

  26. IMHO, the pendulum has swung to another peak. As an old fart whose been done and seen this cycle for 5 decades now, the yodeling Swiss mountain climber will stop and fall off the cliff soon. 2019 maybe 2020? I don't know. What I do know is, I will NOT be buying now or anytime soon. Been there, done that, and had my financial face ripped off in 2009. Quarter million dollar$ for a piece of garbage home on a postage stamp tiny lot. No thanks.

  27. FYI… South Florida, Treasure Coast, Port Saint Lucie, older homes starting to see "price reduced" on more and more listings. New home builders, building as fast as they can still as of Oct 2018. Hope it crashes hard sooner than later, so I can be able to buy.

  28. Just a heads up folks.. I’m in the San Francisco Bay Area (South Bay/Silicon Valley). We are seeing things slow down here now.
    Prices are beginning to deflate.

  29. Denial isn't just a river in egypt. There is no shortage of homes. We were in an everything bubble and it’s popping. Wait till 2019

  30. Just bought a house in December 2018. Its true a home that seems overpriced can scare away many buyers but you have to find something about that home that makes it worth the price. The house I bought was $199k w 2 acres 3bds and similar homes nearby sold for alot less. What special about my home is that its private in a wooded area right in the middle of the city! The owner was an architect and custom built his home. Also built walls in the house with 2x6s. It comes with all the bells and whistles. I also have no neighbor nearby in sight. In my towns market, anything under $80k is trash so I can see where the $199k comes from.

  31. You are exactly right. a sellers market. Get ready for the crash yet again. The house is only worth what the next fool is willing to pay for the house. Wait until the next crash and get a 50% discount:) that's my plan.

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