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What Is Your Buyers Perfect Market?

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Real Estate Agent with eXp Realty of California 01366299

I know some of our areas in the SF Bay area continue to be strong and buyers still make over-bid offers.  But other areas of the bay area bring such a great buyers market, I am not sure why buyers are still on the fence.

In 2004/05, the bay area had a 22% EQUITY growth.  Sellers were living a "Google" life if you will.  It was as if they had purchased stocks and they were rising at record lhighs.  Buyers on the other hand were frustrated with making over-priced offers, writing offers with no contigencies, and losing out on more than one properties.  It was a contiuous up-hill battle that the buyers were tired of engaging in.  They were anxoius for the market to turn around.  Guess what? It's here!

This is an exciting time for buyers.  Inventory is high and buyers have many choices.  Sellers are negotiating prices and terms of the contracts.  Sellers are upgrading homes with new kitchens and bathrooms.  Agents are showing homes that are beautifully staged and ready to move in. The loans available are strong.  Isn't this the market our buyers were looking and asking for in 2005?

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Mike and Dawn Lewis
The Lewis Team at Keller Williams - San Diego, CA
The Lewis Team at Keller Williams in San Diego CA

Kimberly,

Good post. It seems like buyers should be jumping at this opportunity but why arent they? I think they are worried about the market and if they buy now they might not get as good of a deal as if they waited. I see many buyers on the sidelines and they are being cautious. I think your right about it coming down to the specific area and I agree that some exclusive areas are usually very high and if the opportunity is there to buy in these areas at a reduced price it's a good idea to do it. I think the buyers of 2007 are looking and asking for different things than the 2005 buyers did. Good post.

Mike Lewis

Oct 11, 2007 05:09 PM
Rich Jacobson
Fathom Realty West Sound - Poulsbo, WA
Your Kitsap County WA Real Estate Broker
I think many are simply sitting on the fence, waiting for things to drop even further.
Oct 11, 2007 06:04 PM
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