I've been hearing it more and more...soft undertones here and there, until yesterday it hit me like a smack upside the head!!
Two Realtors mentioned to me they have disappointed clients! What is the reason you ask? Their Buyers had both found homes which they were very excited to be making offers on, only to find another offer had been accepted! I am hearing this more and more and am definitely paying attention, our first time home Buyers are on the move. They are smart, educated in what they are looking for and understand that the Market is ready for them right now.
First time home Buyers now account for about 39% of the market and have now woken up to the fact that home prices are way down, rates are still low and this is their opportunity to buy! If you are a Buyer having thoughts of waiting for the market to "hit the bottom" please be careful for typically the only time anyone will realize we were at the bottom is after home prices begin to rebound and interest rates go back up. We all know that at that point...the good deals are gone.
And yet another big advantage Buyers now have in this market is the Seller understands they must be very competitive in their pricing, present their home exceptionally well and quite often even be willing to negotiate.
What does all this mean for our Buyers....when you find a home....don't hesitate, be ready to act quickly!!
Two Realtors mentioned to me they have disappointed clients! What is the reason you ask? Their Buyers had both found homes which they were very excited to be making offers on, only to find another offer had been accepted! I am hearing this more and more and am definitely paying attention, our first time home Buyers are on the move. They are smart, educated in what they are looking for and understand that the Market is ready for them right now.
First time home Buyers now account for about 39% of the market and have now woken up to the fact that home prices are way down, rates are still low and this is their opportunity to buy! If you are a Buyer having thoughts of waiting for the market to "hit the bottom" please be careful for typically the only time anyone will realize we were at the bottom is after home prices begin to rebound and interest rates go back up. We all know that at that point...the good deals are gone.
And yet another big advantage Buyers now have in this market is the Seller understands they must be very competitive in their pricing, present their home exceptionally well and quite often even be willing to negotiate.
What does all this mean for our Buyers....when you find a home....don't hesitate, be ready to act quickly!!
-Therese is Selling and Marketing Properties in the Greater Grand Rapids Area while specializing in Jension, Grandville and Hudsonville.
Please contact Therese Directly at 616.780.0786 In this Challenging Market every advantage is Important!
COPY RIGHT 2008 Therese VanderMeer All Rights Reserved.
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