Are All Buyers Unrealistic?

By
Real Estate Agent with Chase International 01366299

 

I just had a very interesting afternoon with my clients with whom  have been working with for 5 months.  They are similar to the generic buyer's we have into today's market.  The sad part is that I really thought that I was managing their questions and expectations to the extent that they understood our California Bay Area market trends.  They were giving me the signs that our time together was valuable and we were getting close to finding their home.  Today, it all went up in smoke!!

 

My client actually was a bit angry at me for our house prices here in California.  "I can rent,"  she said, "and still save money.  I can move anywhere in the U.S. and buy a home for $200K."   Well of course you can Mr. and Mrs. Buyer.  But remember, you came to me because your job is here, and you wanted to buy a home and you needed my help!  I didn't come to you and say you had to buy a house in California and pay high prices! 

 

Yes, Mr. and Mrs. Buyer our California housing market is high.  Actually the Bay Area was just named one of the most expensive areas to live.  But please Mr. and Mrs. Buyer don't forget that our incomes as well as our equity values rise at a higher rate than most areas.  Are we paying higher housing prices?  Most certainly.  But aren't we benefiting from the growth as well?  IF we stay in our homes for ten years, our average equity growth is 7.5%.  Some years are higher, some years are lower, but on average we still make money. 

 

So what this all boils down to Mr. and Mrs. Buyer, if you would like to purchase a home, I can help you.  If you would rather wait until the housing market falls to match the housing prices of ten years ago, you are going to be waiting a VERY LONG TIME

 

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
18,381
Denise Brophy
Re/Max Realty Specialists - St Johns, NL
ABR ePRO CERC

Hi Kimberly:

You make good points.  When I meet buyers for the first time I attempt to educate them about the current marketplace. Sometimes I'm sure it goes in one ear and out the other because they are excited about the prospect of buying a home.  I also attempt to educate them about their needs versus their wants and that they can expect to have a good return on their dollar in about five years (in eastern Canada).  And sometimes when they feel its our fault that the market is high and we cannot meet their demands perhaps its just wise they move on.

Thanks for your post.

Oct 20, 2007 01:15 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
41,801

Kimberly Moore

Why Settle For Less When You Can Have Moore
Ask me a question
*
*
*
*
Spam prevention

Additional Information