Zig Zag Market

These past few years I have witnessed the most strange and curious happenings in our general residential market here in Mason City. There have been great solid homes sitting on the market at deeply reduced prices while other homes of inferior quality of construction and design and appeal being sold. I know every home has its buyer due to specific tastes but speaking about the market in general there shouldn’t be these wide differences. There was a home that sold not so very long ago that I showed to several prospective buyers whom I since sold other homes that really had the most quirky floor plan and its exterior design and appeal was limited at best. I would be continually wanting changes made in that home due to the lack of function and flow. The crazy thing about this is that there are far superior homes still on the market that haven’t sold in that home’s price range. Last weekend I experienced two different worlds of young buyers. The first young couple are determined to purchase at the top of their range and want everything done. I don’t think they even want to buy a home even if it needs paint on the interior. Now that leaves me to believe they are attempting to set themselves up for failure. The other young couple are looking at homes far lower than their limits that are basically safe and sound and only in need of updates in time. They went on to say they have friends that in the past made the mistake of buying at the top of what their bank said they could afford and found their lives filled with a constant financial struggle. What makes me sad and a bit angry is that if those people were knowingly pressured into purchasing at the top of their limits, then those that were doing the pressuring should help pick up the financial slack when that family’s dollar is stretched beyond its limits. I don’t like it when I find people allowing themselves to be set up for failure. There are always bumps in the road in life and we must prepare a bit for them especially when we are in a market that is in a zig zag state of valuation.

Joe Chodur

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