What the heck is up with Buyers today???

Real Estate Agent with Affinity Real Estate Group

So today I'm in a bank and i hear the loan officer tell the buyer, "hey if you want my honest opinion the real estate market is going to be going down at LEAST until October.  If I was investing I'd definitely wait."

I was totally shocked.  Here's a guy that's going to be in a new profession within just a couple of months....  and he's giving bad advise.  The Seattle Market has gone up 1.2%.  We're in the top 10% of markets in the nation... and this is the advice given to potential buyers.  

I'm totally shocked!  It's a great time to buy! 

What are you doing to help your buyers realize that this IS the time to buy a house? 


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Chris Horton
Horton's Lawn Care L.L.C. - Burton, MI

Some people should just stick to their job and not try to be a councelor lol. I hope he wasn't talking to one of your clients... Hope you straightened them both out kindly of course as banks are great contacts and clients ;-)

May 19, 2008 04:44 PM #1
Erik Hitzelberger
RE/MAX Alliance - Louisville REALTOR-Luxury Homes - Louisville, KY
Louisville - Middletown Real Estate

The only thing that we can do is know our markets and pass the knowledge along to our clients. 

May 19, 2008 04:46 PM #2
Lise McCleerey
Affinity Real Estate Group - Kirkland, WA

Great point Erik!  But the question that comes to mind is, "How does knowing our market translate to creating buyer urgency?"

I know that it's a great time to buy a house.... now how do I encourage a buyer on the fence to write up the offer?


And you're right Chris! People should stick to what they know best!



May 19, 2008 04:51 PM #3
Patty Carroll
Vancouver, WA

It would be interesting to hear where they learned that information.

May 19, 2008 04:54 PM #4
Kim Harris
Sound Realty - Kirkland, WA
Designated Broker/Owner/Sound Realty

Lise, I can't wait to e-mail all my agents and tell them not to do anything until October. And banks are so on top of the current real estate market. Aren't they? Buyers know whats going on.....and they are starting to show up.

May 19, 2008 05:18 PM #5
Joe Virnig
RE/MAX Gold Coast REALTORS, Ventura County, California - Ventura, CA
No Ordinary Joe

I hate to take a contrary position, but when have you ever heard a real estate agent tell someone it's not a great time time to buy?

May 19, 2008 05:22 PM #6
Bob & Carolin Benjamin
Benjamin Realty LLC - Gold Canyon, AZ
East Phoenix Arizona Homes

Sometimes people need to stick to what they know and not be talking about things they do not know.

May 19, 2008 05:25 PM #7
Lise McCleerey
Affinity Real Estate Group - Kirkland, WA

I COMPLETELY agree!  But what do we say to buyers to make them understand that it's a great market to be a buyer?  Trum-, Keyasakie and many of the other national experts say that, "Buyer's Market meand is a great time for BUYERS"  How do we communicate that?

May 19, 2008 05:29 PM #8
Bob Volanti
Keller Williams Realty Fresno - Clovis, CA
Fresno and Clovis, CA Realtor


Wonder if the banker could tell the buyer what the interest rates will be in October or how their lending practices might freeze that buyer out. I tell people to buy and sell when they have the need, then stay put and don't worry about it.

Last but not least, don't expect to use the property as an ATM machine. Shelter first, investment second.

May 19, 2008 05:39 PM #9
Andy Laughlin
ConnectRealty.com - Bellingham, WA

Hello, I don't know if you have heard of Connect Realty yet, but it is a great new company that is growing Fast!! Take a look at my blog "The Future Of Real Estate!!" Let me know if you want to hear more.

Andy Laughlin

Bellingham, Wasington Real Estate


May 23, 2008 04:10 PM #10
David Saks
Memphis, TN

It is a great time to buy with great credit, but I perceive market correction to be seven plus years away. Taxes, refinancing, new financing and other factors will weigh heavily on the conditions affecting market correction.

May 23, 2008 04:13 PM #11
Bill Walker
Bill Walker - Roseville, CA

The loan officer in the bank probably just repeated something that she has heard someone else say.  The media reports daily about what a "bad" market we have and some people listen.

Here in CA I think it is agreat time to buy.  Lots of inventory and motivated sellers.

May 23, 2008 04:43 PM #12
Leslie Stewart
Oregon Licensed Broker with Berkshire Hathaway HomeServices Real Estate Professionals - Stayton, OR
Realtor, ABR, CRS, Oregon Licensed Broker

We have been trying to fight fire with statistics and education.  It is a slow process.  Buyers trust what the media says it is difficult to fight it. 

May 23, 2008 06:54 PM #13
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