Has homebuying become like a Shakespearean play? Buyers are wondering "to buy or not to buy". That is the question on seller's minds as well. With the media and news talking about it everyday, it's impossible to get away from. For every home that sells, one seems to take it place. There are so many sellers, but the buyers seem to be hiding. No one is doing anything about it. That's the part that scares me.
I read an article that basically said we were heading for another depression. Think about that for a minute. Who would benefit from that? The buyers that are waiting to buy a house, will be waiting even longer. Sellers would be unable to sell. It would be difficult to rent or stay and pay the bills. Everyone loses! Buyers are waiting for these rock bottom prices. But what exactly is rock bottom?
As real estate agents, we preach to our sellers to be realistic. Homes are not worth what they once were. There are so many homes that you are competing against. And some sellers have listened. They have done everything we asked. They have tried just about everything. Some sellers have even realized they may have to bring a check to closing. But we have forgotten one aspect. 
We have forgetten to preach to the buyers. Not only do sellers have to be realistic, so do the buyers. Just because their as so many houses on the market, it doesn't mean people are giving their houses away. Remember, real estate is local. So listening to a person across the state, the country, or the world is unreliable. You have the ability to research the market in your area yourself. Anyone can spin numbers.
There is a lack of confidence and trust. And we need to take it back. We need to be confident in our abilities to make an informed decision. We need to trust ourselves. We know our budgets and what we can and want to spend. Just because someone tells you that you can, doesn't mean you should. And just because they say you shouldn't, doesn't mean you can't.
If you are ready to buy a home and you know how much YOU want to spend, it's time to start looking at what your money will get you. You may just find the home of your dreams at a price you can live with. You will never know unless you get out there and try. Opportunities are everywhere, but you can't see then if your eyes are closed.
;)
Links;)
Tags (Tag Cloud);)
Archives
We have a very active market here, but it seems to me that our problem is not so much with prices as it is with buyers getting financing. Due to the economy and the tightening of regulations within the banking industry, I have seen buyers having a difiicult time getting approved for a mortgage. More and more people have had some problems with their credit, due to higher utility bills, medical bills, gas bills that they no longer can qualify for a basic loan.
One of the first things that I talk with a buyer about is what they feel they can qualify for and about getting pre-approved. No sense going out and looking for a new home if you are not going to be able to purchase it. It's a delicate conversation, but one that needs to be addressed. I've seen too many agents spend a lot of time on a client, just to find out two or three weeks later that he or she cannot even qualify to purchase a home. It is such a let down for the agent.