I admit it and I am not ashamed. I am CHEAP! I find it difficult to even imagine walking into a department store and not search for the discount rack. It's a thrill! Every time I can find a bargain, my heart races and my palms get sweaty. I think about how much money I'm saving and, well... it's better than chocolate.... and you know how good that is!
The truth is, I try my best to get the most for my dollar.It doesn't matter if it's groceries, clothes or gas to fill the car. If there is a less expensive place to purchase, I'm on it! So, for all practical purposes, I can understand my Buyers being cautious, taking their time and waiting for the best price on their new property. AND, this is a Buyers Market. Two words, when put together, make the Buyer feel they are the ones in charge. I guess they are...but... only if they are the ONLY Buyer looking at any particular property. Only if they are the only Buyer that sees that home as a possibility in their future. But, they are never the ONLY one.
It's like the famous Filene's Basement Sale on wedding gowns in Boston. A ton of Brides, their friends and Moms await the opening of the store, ready to hurl themselves into a buying frenzy. A multitude of gowns thrown over the arms of Mom to guard while the bride tries her best to decide which one is for her. As hard as Mom tries, there's always someone who will come around the other side of the rack and snatch that beautiful dress from her hands and make it her own.
As you may have guessed, here comes the Real Estate lesson! Prices have dropped, considerably. But they also rose over the last 2 to 3 years at a much higher rate. Appreciation of this size must have a correction, and I believe we have seen it. A few years ago, an average Buyer couldn't consider the high price of purchasing waterfront here in the Lakes Region of New Hampshire. The costs were, well, insane! Today, the prices have corrected and many affordable waterfront homes can be found! So, if you're looking for a deal... and who isn't... Take your Realtor out and don't be afraid to make an offer. Property is at a bargain and you're not the only Buyer looking to save big!
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