Home > Blogs > Valerie Baldwin > Gresham & Sandy, Oregon Real Estate ~ Valerie Harvey, Broker, John L Scott

(((HELLO!))) Are you buyer's crazy????

By Valerie Baldwin

Real Estate Agent with John L. Scott Sandy

August 06, 2007 11:11 AM

Okay, hopefully that got your attention. It is clearly a buyer's market out there.....but where are the serious buyers? I have seen price reduction after price reduction locally here in the Gresham, Oregon and surrounding market, but still the buyer activity has declined. In most areas you can buy a home at last year's prices, if not for less. There are more choices than ever... and many sellers are willing to help with your closing costs. What are you waiting for???

This is your call to action. If you are sitting on the fence, waiting for the "right time", the bell is being rung. Call your agent, talk to your mortage broker and make your best offer on the home that you have been driving by for weeks on end.

Investors...now is the time to pick up that rental property. You can even do a lease option. This is a great time to build your portfolio.

If you are sitting on the fence, I would love to talk with you about today's current market conditions. Please feel free to call or email. Gresham Oregon Home

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Debbie Cook

Long & Foster Real Estate, Inc - Silver Spring, MD

Silver Spring and Takoma Park Maryland Real Estate

The problem that I see is that more and more buyers are waiting for Prices to go down more and interest rates to go down more. This is coupled with the fact that to get financing now, they have to have some money (for a change) and their credit scores must be at least 700. The pool of real "qualifed" buyers is dwindling and it is HOT out and this is typically the slowest time of the year for Real Estate anyway. Makes for a lousy time right now. I have faith though that it will cycle back like it always does!

Aug 06, 2007 11:22 AM

Kate Brantly

Brantly Realty Co - Asheville, NC

Yep, they are a bit crazy, because they aren't paying attention to the fact that after a buyer's market, comes a seller's market (already in the making). In the meantime, everyone needs a place to live, we can't all be personal hedge funders when it comes to basics.., advise them well, don't wait for them to call you, and remind your buyers that as to the land...they don't make anymore of it...everyone needs to pay attention! Regards, Kate

Aug 06, 2007 11:28 AM

Jay Wurlitzer

Distinctive Realty - Marlborough, MA

It really IS amazing that after 18 months of price reductions, the buyers aren't buying in any numbers. Our market has seen prices decline by 30%+ since late 2005! Add to that, historically low interest rates and tons of choices - it doesn't get much better than this if you are looking to purchase a home.

Aug 06, 2007 11:45 AM

Bill Gillhespy

16 Sunview Blvd - Fort Myers Beach, FL

Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

I just don't see how a price reduction will make a buyer finally act ! Look at it this way: buyers feel that the market may further correct and therefore they should resist the temptation to jump in. Sooo, when they see a price reduction it only serves to prove their initial assumption ( if they continue to wait the market will continue to go down ). My feeling is that the buyers will start getting serious when they see that the market is starting to act like a sellers' market again: to see some listings with price increases !

Aug 06, 2007 11:54 AM

Thesa Chambers

West + Main - Bend, OR

Principal Broker - Licensed in Oregon

Valerie - welcome back - I am so happy to see you here - I have missed you. Buyers are gun shy here too

Aug 06, 2007 05:33 PM

Valerie Baldwin

John L. Scott Sandy - Gresham, OR

Harvey, Gresham Oregon Real Estate

Thanks all for stopping by,

Debbie-the lending scenarios are definitely contributing to the "lack" of buyers. I, too, believe that this is cyclical.

Kate-You are so right.

Jay-Amen.

Bill-I agree with you as well. Price reductions feed the "market dropping" syndrome. We have way more inventory this year as we did last summer. Supply and demand. Bring on the seller's market and price increases!

Gary-The news media hype certainly has put a damper on potential buyer's emotions. The key is to get the buyer thinking more on the logical than the emotional.

Thesa-Thank you so much...I have really missed you and everyone here at AR...despite the lack of buyers, I have still been very busy. I hope to be around more often.

Aug 07, 2007 05:49 AM

Sarah Eubanks

Hill Valley Financial Services - Oregon City, OR

Preferred Oregon Loan Consultant & Notary Public

Valerie, I am happy to see that you are calling people to the carpet so to speak. I think that Gary was correct. The media is what is killing home sales, new construction, and more. If the housing market were going strong the media would report on inflation and on how it was going to burst. They are doom and gloomers, unfortunately, all too often. That means that it is up to us to find great homes and great loan products to prove the media wrong! Thanks for the assertive post! :-)

Aug 08, 2007 04:54 AM

Sharon "Toni" Brown

Exit Realty United - South Ozone Park, NY

South Ozone Park - New York City Real Estate

Well I don't think they're crazy, just uninformed. Hopefully they will find this article and many others like it and get on board. Buyers are you listening? The waters is perfect, jump on in!

Aug 23, 2007 06:39 AM

(((HELLO!))) Are you buyer's crazy????

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