Buyers Market. Maybe, Maybe Not?
Is it really a buyer’s market? I don’t think so. I mean, all the signs, technical and logical, point to a buyer’s market. The indicators are there. Inventory is up, supply outweighs demand, but does it really? Buyers now have an overwhelming amount of choices and decisions to make. The fear of making a bad decision has them making no decision at all. Homes that are “no-brainer’s” are flying off the shelves at a record pace.
So what makes a home a “no-brainer”? It’s simple. A home that has very few or no objections. Buyers are not coming through a house to buy that house. They are coming through a house to merely check it off their list. If you have put up with, say, having to walk through a bedroom to get to the only bathroom in the house, that doesn’t mean a new buyer is just going to overlook it.
Homes that leave no room for protest are gone, often before they even come on the market. And if you don’t think that’s going on, I personally know of at least 2 homes in just the last week that have sold without even being listed on the open market. Really.
My fellow agents and I are constantly making calls to neighborhoods where a buyer lost out or where the buyer wants to be, because they are not finding what they want on the market. Most homeowners find this hard to believe- I wish they could follow some of us around for a day. Many of my seller clients do get to see first hand what buyers are looking at in addition to their house. It’s the easiest way for me to show my clients how important it is to be one of the best, if not the best home out there.
Ask any buyer who has had to compete for a house in the last 6 months how they like this buyer’s market! They’ll probably look at you like you’re crazy. Between overpriced homes with unrealistic sellers, foreclosures, short sales, fixer-uppers and markets that are still declining somewhat, this buyer’s market is taking it’s toll on potential homeowners! Call it a buyer’s market if you want, after all, it IS a great time to buy. Great rates, tax credit, low prices, it’s all good. Just remember, everybody wants the best house, for the best price, right away. If you want it, be prepared to get serious and put your best foot forward.
Posted by:
Lisa Tremaine
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