Can it be described as "A market condition characterized by an abundance of goods available for sale”...a reasonable description of a buyer’s market? Is a decline in pricing reflecting a buyer’s market?
Well its a buyer’s market, or was, in terms of availability. This condition has been changing. Rather than reducing the price in the So. Bay, where pricing is all in the Jumbo Loan category, sellers are becoming holders. Its becoming a Holders Market... ‘Why sell now when I can get my price’ is becoming le mot du jour.
So in simple terms, if you can find it, buy it. And don’t overlook the historically low interest rates that are still in place. Do your homework. Determine what the going prices are and go from there. There are certainly buys to be had, but they’re not what they used to be. The buyers who are laying in the weeds waiting for big downturns in pricing are missing some good buys. I’ve sent listings to clients with $25K-$240K reductions, that did not draw a walkthrough. This is making a pass on a Buyers Market. I hope The Media doesn’t exercise the same mind control in the up-coming elections. P.T. Barnum would have had a field day.
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