Buyer's, you may not be in a buyer's market for much longer.

  1. At Family Reunion (Keller Williams Convention) in February, a panelist from Ann Arbor talked about his market turning in 3 weeks with multiple offers coming in on everything. 
  2. In Las Vegas a team leader told me they had a 2 1/2 month inventory with multiple offers on everything.  
  3. An REO agent in my office in Big Bear told me she's entertaining multiple offers on everything the bank will let her price right.  
  4. My buyers just entered into a negotiation on a house in Big Bear Lake that was on the market for 1 day and lost out to 2 full priced offers while they were deciding to sign the Seller's counter.  
  5. My Seller got two offers on a house in Big Bear City and while waiting for buyer responses to his multiple counter, he got a third over asking offer.

One of my buyers said he wasn't worried because the uptick in interest rates would hurt the market.  

I have come to believe that that increase might be spurring the shift.  

There have been so many buyers worried about getting in and losing equity to a still declining market, but they know they want to get in.  Now they're seeing home prices below what it costs to build and interest rates rising above all time lows.  

Is this triggering a reaction in saavvy buyers?  I think so, and it should.  After all a 1 point increase in interest rates reduces a buyer's purchase power by 10.75% if relying on a loan.

Inventory is low in a lot of places, buyers are ready, interest rates are rising.  If you love the house be prepared to walk in with a full price offer.  It will probably mean you will actually be paying less because you get to avoid a bidding war.

Search All Homes

Free Access to 1000's of Homes For Sale in Big Bear Real Estate

 

 

 

Use my State of the art Mapping tools

Begin Searching your DREAM Home NOW!!!

http://www.bigbearcabins4sale.com/featuredlistings/

 

Keller Williams Luxury Homes

www.CarolNeu.com

 

 
You can also find me on
 
 
            
 
 

      

 

As always, I am dedicated to helping YOU become and stay wealthy.

 
This post has been included in California Real Estate News San Bernardino County, CA Real Estate News Big Bear, CA Real Estate News
Post is included in group: Market Reports
Post is included in group: LA Connection
Post is included in group: Posts to Localism
Post is included in group: Vacation and Second homes
Post is included in group: Local Expert

4 Comments on The End of the Buyer's Market, Can You Feel the Shift?

APR
01
2012
378,775 Points 5 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Carol, 

It sure as heck feels like a shift to me.  If not a seller's market, it's a heck of a lot more balanced.  It's exciting and seems to be re-charging the market.

All the best, Michelle

 

 
6:46am • #1
447,681 Points 11 Featured Posts Outside Blog Called Shot Master

In a year's time there are going to be a lot of people wishing they had bought now Carol.
6:48am • #2
225,079 Points 4 Featured Posts Outside Blog Called Shot Master

Have also seen the shift here in Orange County. Will have to see if sustainable - largely driven by lower inventories. But yes, multiple offers are the norm if the home is priced right.
7:02am • #3
106,206 Points 3 Featured Posts

Yes, even in our little market we are seeing the shift. I'm with Michelle in that it doesn't seem like a full blown sellers market, just a little more balanced.  Frankly, I wish it would stay balanced and not have people on EITHER side looking to take advantage of others.
7:03am • #4


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Rainmaker_large

Carol Neu, SFR, RCS-D Big Bear Foreclosures

Big Bear Lake, CA

More about me…

Keller Williams Big Bear Lake Arrowhead

Address: 41693 Big Bear Blvd., P.O. Box 2845, Big Bear Lake, CA, 92315

Office Phone: (909) 584-9344

Email Me

Your Big Bear Lake Real Estate Connection Get a positive, helpful partner for buying or selling a home: * Trusted resource for answers about the process * Innovative marketing strategies * Expertise about neighborhood features * Ability to target home searches * Strong negotiation skills * Support through the closing and beyond


Listings
Front
$70,000
1 br, 1 ba, 600 sqft
Darling cabin nestled next to season stream. Spacious living area with big ki...
1
$169,000
3 br, 1½ ba, 1,064 sqft
FABULOUS MOUNTAIN & SKI SLOPE VIEWS FROM THE HUGE DECK OF THIS 3 BED, 1.5...
1
$90,000
2 br, 1 ba, 760 sqft
NOW PENDING! LOVELY TREED SETTING. UPPER SUGARLOAF 2 BED, 1 BATH CABIN. OPEN ...

Links

Archives

RSS 2.0 Feed for this blog