Homebuyers have had the advantage for six years, especially in hard-hit real estate markets. But now sellers are enjoying a resurgence. Some buyers don’t realize or can’t accept that the market has changed.


As a result, some buyers aren’t getting the homes they want. Here are common errors that agents and experts say buyers are making:


Sticking with lowball offers:

Ridiculously low offers were the norm during the housing bust, but buyers can’t get away with them anymore.


Taking too long to “sleep on it”:

Agents who tell buyers not to dilly-dally often are accused of being self-serving. But with so few houses available for sale, agents say buyers don’t understand how the market has changed. According to the National Association of Realtors, the number of homes listed for sale has fallen by more than one-third since the peak in July 2007.

Inventories will swell as more bank-owned homes hit the market in the months ahead, experts say. For now, though, new listings are coveted by house hunters frustrated by the lack of choices. Not all homes sell quickly because some sellers are asking for higher than market value. But properties priced appropriately in desirable neighborhoods tend to go under contract within days or weeks - or sometimes hours.


Littering the contract with contingencies:

The standard real estate contract includes stipulations, such as the buyer qualifying for a mortgage. But some buyers also insist on unnecessarily long inspection periods - 30 days instead of 10, for instance. Or they want the sale to be contingent on a family member touring the property.


Failing to make a personal impression on the seller:

With some homes getting two or more bids, it’s not enough to offer a competitive price. Owners will look at other factors to decide which offer to take.

 

 

Wieder Realty is your best source of information when it comes to Palm-Aire and the surrounding area.

Call us at 954-978-8300 or 888-979-9788

1221 S Powerline Road - Pompano Beach - Florida 33069

(Next to Bagel Snack)

 

Wieder Realty - Your Best Move!

www.Palm-Aire.com

 
Posted by Randy Harden - www.RERandy.com on 06/14/2012 02:34 PM   Comments (1)  
Short URL: http://actvra.in/CvT

1 Comments on Buyers mistakes as the market shift towards the Seller's advantage

JUN
15
226,784 Points 4 Featured Posts Outside Blog Called Shot Master

Great advice - buyers need to operate with urgency and structure their offers for acceptance. Regards, Dave
4:38am • #1


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Randy Harden - www.RERandy.com

Pompano Beach, FL

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Wieder Realty, Inc.

Address: 1221 S Powerline Road, Pompano Beach, FL, 33069

Office Phone: (954) 979-9788

Cell Phone: (954) 415-4497

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