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Unrealistic Expectations from Buyers
I have recently been in contact with a few buyers in my market. What I am discovering is that buyer's expectations are now even worse than what seller's expectations were last year. In 2004-2005, sellers felt that they could ask for what ever they wanted for their home, and probably get it. There was a huge under-supply of homes on the market, and buyer's were desperate for anything.
Now that the tables are turned however, I find that buyers can be just as unreasonable as the sellers of yesterday. Whereas sellers in 05 were asking prices that were commensurate with what the market would bear, and were sometimes asking for about 10% more than the market would bear, their demands were not totally off the mark.
However, many buyers will have very unreasonable expectations of what the seller will accept. We keep reading about how buyers and sellers are at a stalemate, each biding their time: sellers want more, buyers want to pay less. I believe that one of the issues that is contributing to the climate of hostility is that buyers want to pay a lot less.
It is now very common for a buyer to write a contract on a $400,000 home, and ... more

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