Sitting on the Fence

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Real Estate Agent with ColdwellBanker SSK Realtors ~ 478.960.8055 anita@cbssk.com

Buying a Home - Homes for Sale in Warner Robins GA - Your Warner Robins RealtorI've been a Realtor® for only 4 years so I would consider myself a relative newbie but for the life of me I don't understand why the market isn't flooded with buyers.  House prices are reasonable (in my area anyway), interest rates are incredibly low, and there is ample inventory (in my area). 

Is it because lenders are being stingier with loans?  Appraisals coming in too low?  Everyone left have bad credit?  Something else?

Choosing to buy a house NOW seems like the smart move to me.  You can live the American Dream, pay less than you would for rent, and build equity in your own home.

If you snooze, you lose...or do you?

 

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Rainer
15,068
Lynne Rowland
Allen Tate Realtors - Belmont, NC

So many of my buyers are waiting for "the deal". Most do not feel we have hit bottom. My thoughts are if you keep waiting for the bottom you will miss out on this market. Sometimes we have to push them off the fence.

Sep 03, 2010 05:20 AM #41
Rainer
53,484
Lesley Wagstaff
Re/Max Results Realty in Vancouver, BC - Coquitlam, BC
For Real Estate and Mortgages

I have wondered the same thing.  In Canada we have uncertainty but not to the level you do, yet we are facing the same thing the buyers are just not jumping in.  Unbelievable!

Sep 03, 2010 05:52 AM #42
Rainmaker
431,754
LLoyd Nichols
Premier Florida Realty of SWFL - Fort Myers, FL
SW Florida Homes

It's a combination, as has been stated.  Lenders are making it tough these days, for certain.

Sep 03, 2010 06:03 AM #43
Rainmaker
2,026,290
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Morgan...I couldn't agree more.  NOW is the time.

Chris...Very good point about USDA Rural.  I've used it here and it has definately helped.  Unfortunately you are right though, "this too shall pass".

Kathleen...It's time for the hibernation to end!  

Sharon...I wish we could convince the public it is a good time to buy.  The best we can do is continue to educate those we come in contact with and do right by those we assist. 

Sep 03, 2010 06:08 AM #44
Rainer
140,645
Alice Broadway
Parker & Rankin (Ms) & Azalea Realty (AL) - Mobile, AL
Real Estate Broker

grest post,

Sep 03, 2010 06:09 AM #45
Rainmaker
2,026,290
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Paul...you make some really good points.  I think I'm going to "borrow" one of your ideas for tomorrow's blog.  Thanks for sharing!

Kathleen...good analysis of your local area, but more importantly, you have the right mindset.  Concentrate on those you can affect...your current customers.

Morgan...That's a possibility because low prices/rates haven't broken the logjam free.  

Lynne...I like the way you think!  Nothing like a "helping hand" eh?

Leslie/Lloyd...I think it's a combination of all the factors hit upon by others in this blog.  Clear up one underlying factor and perhaps the rest will begin to fall in line too.

Sep 03, 2010 06:19 AM #46
Rainmaker
876,233
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

I think Christa and the Pfanns have it right.  Buyers are like lemmings - when a few get going, they will all get going.  And they won't get going until they see that prices have started to rise.  It may not make sense, but it's human nature.

Sep 03, 2010 06:26 AM #47
Rainer
136,834
Brent & Deb Wells
LivingWell Properties - Prosper, TX
Prosper TX

Anita - Nervous people do not usually buy a home. When you are confident in the job market, your job, your income, in stable home prices and in the country / government then homes sell well. When you have high unemployment and a shaky housing market the buying public pulls back.

Sep 03, 2010 06:35 AM #48
Rainmaker
702,100
Rob D. Shepherd
Windermere/lane county - Florence, OR
Principal Broker ABR, GRI

I have plenty of CASH buyers that have picked out the home they want,as I reach for my ink pen they take off running.

Sep 03, 2010 06:39 AM #49
Rainmaker
526,047
Dr. Stacey-Ann Baugh
Century 21 New Millennium - Upper Marlboro, MD
A doctor who makes house calls.

I agree with you.  For the life of me I can't figure out why someone who can wouldn't buy now.

Sep 03, 2010 06:52 AM #50
Rainmaker
2,026,290
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Denise/Peggy...Half the equation is solved (prices/inventory), we just need the lenders/buyers to jump onboard too.

Gregory...When they realize there's nothing to be afraid of, it may be too late.

Kathy...I haven't done an analysis on the age demographics of my area but just from my experiences it's the 30-45 range that need to hop off the fence here.

Peter & Linda...It's kinda like the traffic bottlenecks we encounter on the freeway/interstate when there doesn't seem to be a logical reason for the delay.  Good post, thanks for sharing.  

 

Sep 03, 2010 07:12 AM #51
Rainer
144,239
Victor Zuniga
Berkshire Hathaway Home Services California Properties - San Diego, CA

The real estate cosmos have never been more perfectly aligned then now. You can pay a little now or a lot later.

Sep 03, 2010 07:36 AM #52
Ambassador
1,392,964
Erica Ramus
Erica Ramus - Ramus Realty Group - Pottsville, PA - Pottsville, PA
MRE, Schuylkill County PA Real Estate

We seem to have plenty of buyers out there who want homes, but finding the money is the problem in my area.

Sep 03, 2010 08:36 AM #53
Rainer
31,161
Michael Hathman
Home Sweet Home Enterprises - Saint Charles, MO
Affordable Housing & Down Payment Assistance

Now is the best time in the world to buy a house - not necessarily because a house will turn out to be a great investment but because housing is so, so affordable!

Additionally, now is a great time to get for buyers to get their credit repaired and take advantage of great rates is a good idea.

If down payment money is an issue, using a rent to own arrangement and using a rental credit to help finance the down payment could be a smart answer to a tight budget for many consumers. 

Sep 03, 2010 08:42 AM #54
Rainmaker
49,858
Virginia Madden
Virginia Madden, Buyer's Choice Realty, LLC (Prattville, AL) - Prattville, AL

Anita, in my little corner of Alabama, what I'm hearing the most from buyers is uncertainty about jobs and the need for mobility in case a better job comes up somewhere else.  I've talked to quite a few buyers who would LOVE to buy a home, but they are reluctant to make a 30-year promise if they don't know whether they'll have a job in six months. 

And I honestly can't blame them for that.  It's not only perfectly reasonable for them to feel that way, I actually praise them for it.  By being reasonably cautious and not taking on a debt that they don't have any kind of real confidence that they'll be able to carry for at least a year, if not five or ten, well, that just sounds like good fiscally-responsible behavior to me.  The last thing we need is another huge wave of foreclosures due to people continuing to be laid off and jobs going away.  This is just my opinion, of course - others can (and probably will) disagree.  And there are different situations in different markets - you can see that even in reading the comments here.  Some have little inventory and lots of buyers - others have lots of inventory and few buyers. 

Cash buyers and buyers who are going to stay put in their homes - those are the ones who seem to be buying right now in my area.

Sep 03, 2010 09:55 AM #55
Anonymous
Peachfuzz

I believe the political atmosphere is one of the main reasons that those folks with money are not buying. The investors lead the marketplace. They are waiting for a Republican administration. Just wait and see. If the Republicans take over the white house, money will suddenly be released from the banks, money will come out from under the mattress, folks will feel , all is right with the world again. Did'nt some folks say they want this administration to fail? Now, I am a Democrat so I say chase down those Democratic buyers, you may see an open wallet!!

Sep 03, 2010 10:26 AM #56
Ambassador
1,574,687
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes & Beach Cities Homes in L.A.

The economy is floating in a sea of uncertainty--some say it is in recovery mode, other experts say it may sink lower with rising unemployment and declining home prices.  Fence-sitting is uncomfortable but many buyers will continue to wait until the economic signals are less confusing. 

Sep 03, 2010 04:20 PM #57
Rainmaker
275,172
Ken Cook
Content, coding, marketing, host. - Marietta, GA
Content Marketer/Creator

I like it! Unemployment, lack of savings due to reduced incomes/job changes, lowered credit because of higher credit exposure (credit cards maxed out) - there are many reasons we see. What I like to tell people is while many lenders are being stingy with their loans (especially the bigger banks) we're finding reasons to lend right here at home in Georgia. In fact we're the number one Georgia Dream (DCA) lender by far and helping hundreds of home shoppers become home owner's every month. We're growing pretty quickly when other lenders are having to stretch the truth about closing times, interest rates, closing costs ... it's just a matter of want to and we (I) want to lend money!

Sep 04, 2010 02:43 AM #58
Rainer
86,540
Ron Parise
LocateHomes.com - Cape Coral, FL

It's the economy.  There is no confidence that the economy wont tank. And without confidence who is going to buy a new home?

 

Sep 04, 2010 06:27 AM #59
Rainmaker
2,026,290
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Thanks to all of you for your insightful comments!  Have a fun and safe Labor Day weekend!

Sep 04, 2010 09:04 AM #60
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Anita Clark

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