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Too much inventory? It is good for those people we call BUYERS !!

Too much inventory? It is good for those people we call BUYERS !!
by Kaushik Sirkar, Chandler AZ REALTOR
Chandler Arizona Real Estate

Many parts of the country have way too many homes on the market. Inventories are setting records (certainly the case in the Phoenix metropolitan area). We are seeing the number of transactions decrease. We are seeing homes sit on the market longer. We are seeing sellers very frustrated by the inability to sell their homes!

Lets not forget - this set of conditions is actually good for one set of the population - BUYERS!!!! In various markets, they have inventory to select from like they have never had before. Prices have recessed in certain metropolitan areas - great for those who were not previously ready to buy and those who were waiting to buy. Buyers have been able to negotiate the prices down from list prices - unheard of only a few short years ago!

See this article in today's Arizona Republic. Various interesting items are discussed. Attempting to time the market bottom for the best time to buy. How rising foreclosures are good for prospective buyers...but one of the key takeaways for folks trying to time the bottom of the market - rising interest rates could easily offset the benefits of a dropping market!

Just a reminder - buyers have aren't in bad shape right now. For the buyers out there, depending on market, you may never has selection like this before! And for agents - I have often heard the term "list or die" from successful agents. Definitely valid....but it may just be a good time to put a little more focus on buyers!!

Thanks for Reading :)

Kaushik Sirkar, Chandler AZ REALTOR
http://www.homesphx.com

Posted by Kaushik Sirkar on 06/08/2007 11:33 PM

Comments (7)

arizona real estate, chandler real estate, phoenix real estate, buyers market supply of homes

This post has been included in Arizona Information Maricopa County, AZ Information Phoenix, AZ Information

7 Comments on Too much inventory? It is good for those people we call BUYERS !!

JUN

2007

I agree with you 100% Kaushik. This is one of the best times to buy than we've seen in recent years. Not only because of the inventory but because of the incentives many sellers and builders are offering. Good post Kaushik.

Kaushik, buyers definitely have the advantage. Interest rates at some of the lowest levels in years, plenty of homes to review, even new homes are being given discounted pricing! No better time than now!

Hi there, I too am in agreement with you. Actually I think it's great for buyers to have the opportunity to make an informed decision today. Thanks for sharing!

JUN

2007

Definitely buyers have an advantage in this market. Thanks for sharing.

Kaushik, good point about the interest rates, they have been going up over the last couple of weeks, so it might not be a good idea to wait to long.

JUN

2007

Yes, I do agree that now is the time for buyers and it is all over the United States! Not just locally so guess for a buyer's agent it is a great opportunity to show a lot of homes and sell sell sell!

JUL

2007

Inventory of Homes and Inventory of accessories and furniture for those homes go hand in hand.That's where staging comes into play. We show you how to accumulate furniture to build and inventory. This way you can rent out your inventory monthly when you stage a home. Check out www.propertystagingconsultants.com . We'll help you.

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