Buyers...Hmmm....We know there are not a lot of them....but WHO Are They?

By
Real Estate Agent with Smart Green Realty

Remember a couple years ago when there were floor calls and normal buyers? I used to have at least 11 buyers. The first thing I did every day was check for new listings that might work for them. They were people looking for more room...a bigger kitchen...a school district. If I could figure out who the buyers out there now are, maybe I could do better marketing? It seems like I keep meeting a lot of unrealistic bargain hunters who want to steal things. I met one couple at an open house in the Germantown neighborhood of Philadelphia, PA, recently. The house was a beautifully redone 1400 sq foot twin for $175,000. The couple had 3 teenage boys. No way would they fit! A very reasonably-priced move up from that is an 1800 sq ft twin in popular Roxborough, PA neighborhood of Philadelphia, w/ 3 or 4 bedrooms and a finished walkout basement with patio and yard for $275. 3 bedrooms that need work could be had for $245. Those are reasonable option for this couple who have good educations and decent city jobs w/ security. The husband said he didn't want to pay that much. OK. Fast forward to the following Friday. I get a floor call on a $725,000 house. It is from them. Huh? Big houses in highly desirable neighborhoods aren't going for under $300,000. The week before I got a rare floor call on a $650,000 house. Turns out the man was really a $300,000 buyer. I sent him some nice options and never heard from him. Same story with another woman who seems to have seen every house in town over the past year. What's up?

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Rainmaker
290,082
LaNita Cates
REMAX of Joliet - Joliet, IL

There are so many unrealistic buyers out there. I just don't understand why they think they can steal homes. Just because the market is what it is, the homes are already priced incredible. It gets old, that's for sure!

Sep 12, 2010 02:45 AM #1
Rainer
118,516
Noah Levy
Coldwell Banker - Highland Park, IL
Coldwell Banker Highland Park IL

We need to educate these unrealistic buyers - show them what a similar home sold for in the height of the market - a 500k house in my area had a list price  of 650-675k in the height of the market - once the buyers are educated most of them get it! Good luck.

Sep 12, 2010 02:59 AM #2
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Rainmaker
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