If You Like It, Buy It!
Yes, of course we are in a buyer's market. And, yes, some of the homes have been on the market for a considerable amount of time. However, as I tell my buyer clients...It is easy to know how long a house has been on the market but we don't know how long it will remain there. Waiting too long can be risky, perhaps even a losing situation.
I am one of those shoppers who will find something I might like to buy and then hold off actually purchasing for a day or even more.
Why? I don't know. Maybe I just don't like to impulse buy. Maybe I have to think about it for awhile to be sure it's a good deal. Maybe I want to make sure I really need it. Maybe I am getting tighter with my money.
Whatever it is, many times I will make my ‘delayed' decision only to find the item I now ‘really' wanted is no longer available. Someone else has purchased it and there is no longer anything exactly similar. Bummer.
Because of my frequent buying indecision my husband has gotten accustomed to saying "If you like it, buy it". I still don't regularly take his advice so I continue to get burned by my purchasing delays.
There is always some buyer indecision in real estate purchases. After all, it is the usually the biggest purchase one will make in a lifetime.
I've had a few recent 'indecisive' experiences with qualified, ready buyers -- Names have been changed to protect the innocent.
Casper' found a home to purchase as an investment which he wanted to rent out. When the property was reduced to a very attractive price, I recommended putting an offer in as I anticipated there would be a lot of interest. Casper thought he'd wait it out a little longer -- after all -- he has the national news mindset that the market is so dreadful. Two days later there was an offer accepted on the property. Casper sad. :-(
'Elvira' found a property that was not in the best of shape but the location was priceless. Even though Elvira thought the price was good, she took her time deciding because "who else would pay that kind of money and have to do all that work". I told her you can change the house, but you can't change the location! She said the property would be around for a long time. She had time. Nope, sorry. Another buyer snatched it up. Elvira not happy.
Many buyers are in the frame of mind that properties will be sitting on the market for a lot longer and perhaps the property they are interested in also has a high number of days on the market. So they take their time in deciding to pull the trigger.
Then what happens? The property they ‘loved' has been snatched up by someone else (how dare they buy MY house?) and there is not a lot they can do about it unless they want to go in and offer a backup, sometimes higher than what they would have offered in the first place.
Buyers should not think that just because we are still in a ‘buyer's' market, that they have all the time in the world to make a decision.
If the buyer is dreaming of the house or planning where to put the furniture then that's a pretty good indicator that s/he should act quickly and without delay. Get the offer in and hopefully proceed to an acceptance.
If you like it, buy it. Don't waste time. Monopolize the situation. Go to the sale. Go directly to the sale. Pass Go - and collect your property!
If You Like It, Buy It!
Barbara Altieri, REALTOR
Listing and Buyer's Agent
Certified Short Sales Specialist
RealtyQuest Real Estate Sales and Services
203.656.4993 x29
barbara.altieri@realtyquest.com
www.realtyquest.com
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