When should a buyer start looking at property? I have dealt with buyers who got the urge to move or buy a 2nd home, started looking at property and bought one rather quickly. I have buyers that have been looking at Sarasota houses for the last 5 years without making a purchase. I don't blame them for not making a purchase since the market has been declining the last 5 years other than the fact that they have not been able to enjoy a property.
Last night I received an email from someone about a home purchase. In my pre-qualification email response I asked when they were looking to make a purchase. He said in 2011. We aren't even in 2010 yet. This guy is starting pretty early. If someone wants to learn and start understanding the market early I don't see anything wrong with that. However, I don't see any reason to actually make an appointment with a Realtor and start looking at homes if you purchase date is a year off. Any good homes that they see won't be around in a year.
The market is dynamic and changes daily. It does not change as quickly as the stock market but every day homes sell, go under contract, expire and new ones come up for sale. If a buyer starts looking at property they will no doubt find the perfect house for them that someone else buys. When it comes to buy time those buyer will undoubtedly be looking for that perfect house that they lost.
In my opinion a buyer can start early by researching the market via the internet and driving through various areas and neighborhoods but I think they should only make appointments to view houses when they are ready to pull the trigger. Your thoughts?
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