Seller attitudes

Don't let greed impact decision making process

Harold Bubil of the Herald-Tribune comments on seller greed in his recent column.

Economist and Sarasota resident John Tucillo puts it bluntly."Sellers are always the last to know" when the market has turned, says the former chief economist of the National Association of Realtors.

"In many markets across the country, listings are up," Tucillo writes via e-mail. "Prices have risen to the point where some buyers are discouraged; the rent-vs.-buy calculation is convincing others to move from ownership to tenancy; and sellers are getting greedy (either rushing into the market to beat the slowdown, or overpricing
their homes).

As market forces begin to favor buyers, sellers need to modify their decision making to be aligned with current market conditions. This is going to be a difficult process for many in SW Florida that have grown accustomed to quarterly double digit appreciation rates.

No time for greed [Herald-Tribune]