I can remember in the 2004-2005 era, or “height” of the market rise, more than 50% of my customers never saw the properties they were buying. They simply knew they wanted to own and to flip.
It wasn’t necessarily a matter of need; but a desire to Buy Property hua hin and own at the beach. There wasn’t always a relationship formed with their Realtor, as trust in the real estate market was not an issue.
As the market declined, this completely changed.
For example, in 2009, savvy real estate buyers watched our market and could foresee that the bottom would be forthcoming, they began to buy. These buyers wanted anything that made sense in a cash flow analysis priced under $300,000.
They were a totally different buyer and the biggest difference was that they got on a plane, flew here to meet us, and toured the property they were buying. They dotted their I’s, crossed their t’s and worked their spreadsheets.
As the market began to stabilize and the bottom became a realization of 2011, these buyers are returning to trust in the real estate market.
For the first time in years, I found a home for a couple to live in that they have never seen. She traveled here and we spent a weekend looking at homes. I knew what she wanted and where she wanted to live and I found it! She trusted me.
She and her husband wrote the offer and got the home. Her husband traveled here this week to take possession of the home. She is to follow next week. He walked in and said, “Wow, I love it!” “You were right Robbie, it’s perfect for us.”
It feels good to see the return of a normal market. It’s not just the market returning to a healthy balance, but our relationships as well.
I suggest you buy your two tickets to paradise, pack your bags and head to the Emerald Coast! It’s time to own your piece of paradise!
