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Buyer wants to wait... Just read paper not good time to buy.

By Shawn Hartmann

Real Estate Agent with RE/MAX RESULTS

March 07, 2008 09:10 AM

I just showed a buyer 16 homes in the past 3 days, all homes in great condition location and at great prices. We left it at that last night and they had one property picked out! Including a 3rd showing. I was ready to write this morning and excited to call them. When I did, i got a timid response. He asked me if I had seen the morning paper today. I said, "no, I do not read that". He said that there was an article that said it is not a good time to buy, for first timers, because prices will continue to fall. they also had family members encourage them to hold on. They are in month 2 month situation in a rental and first time buyers. They want to wait until who knows how long. Frustrating.. what would you do?

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Tim Gilmour

Exit Realty - Watertown, SD

You've just gotta love the media! How many years has the paper been in the real estate business?

Good luck!

Mar 07, 2008 09:15 AM

Steve Hoffacker

Steve Hoffacker LLC - West Palm Beach, FL

Certified Aging In Place Specialist-Instructor

This is a freuent comment of woul-be buyers. Actually this is the best time to buy. Obviously they are scared. Find out how to put their mind at ease. 3 visits is plenty to make up their mind.

Mar 07, 2008 09:17 AM

Tony Grego, 317-663-4173 #1 Trade Association for Alternative Inv

REISA - 317-663-4173 - Indianapolis, IN

Tell them to buy a different newspaper. (somewhat kidding). The challenge with many first time homebuyers is like me on a golf course. I listen to everyone about swing advise and end up in the same place or worse than when I started. For whatever reason they think they have the real estate skills of Donald Trump.

Now that that is off my chest I would tell them
"What you read is an opinion. If your an real estate investor with liquid capital that does not have to rely on a mortgage you may be able to afford to wait but if your are looking at a home. A place to raise your family, a place to call home isn't it better to maybe (and I say maybe) pay just a little bit more to get the home you like and deserve than to wait and buy the homes that no one wanted. In the event that you need a mortgage for your home you also need to read all that has been plublished with tightening credit markets. Chances are the home you qualify to get today you may not tormorrow.

My two cents.
Good Luck
Tony

Mar 07, 2008 09:18 AM

Shawn Hartmann

RE/MAX RESULTS - Roseville, MN

This great info guys. I tryed to explain it lke this:

"when will you know we hit bottom? once the paper tells you homes are great to buy, prices would have already gone up, because they get last months report from out board."

now they are thinking over night. I'll post you on what happens. should be obvious huh?

Mar 07, 2008 09:23 AM

Buyer wants to wait... Just read paper not good time to buy.

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