Buyer inertia is a major factor in the Tampa Bay real estate market today. Low interest rates and massive price drops make the average Tampa home cost half of what it did in 2006 (in terms of monthly mortgage payments), yet home buyers can’t seem to get motivated. We’ll address this in future posts, but yesterday’s blog by Seth Godin had an interesting way to frame the issue facing Tampa home sellers:
While you think your competition is that (other house in the neighborhood), it’s probably apathy, sitting still, ignoring the problem… (doing) nothing. Stop worrying so much about comparing yourself to every other possible competitor you can imagine and start comparing yourself to nothing. Are you really worth the hassle, the risk, the time, the money? Or can’t the prospect just wait until tomorrow?
