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If the Buyers are in the Driver's Seat...

By Steve Prewitt

Real Estate Agent with RE/MAX Advantage

December 06, 2007 07:05 AM

A buyer's market means that the buyers have the advantage. The buyers today are in the driver's seat. Why then don't more buyers buy in a buyer's market? Would the primary reason be fear? Fear that they will lose money if they bought now? All the negative press tends to get to the masses of people. Is the media the ones creating the fear and uncertainty? Is the Media helping keep people out of the buying mode and creating this buyer's market?

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Chuck Christensen

Your Financial Coach - Bellingham, WA

Still fear of buying...because the media is focused on all the foreclosures and so everyone thinks they will be foreclosed on also...I know people that think the bank can still call the note because they want some extra cash. The media is not focusing on buyers getting a great deal and so the buyers are still waiting. The buyers are still waiting for rates to come down...I locked in a fixed rate of 5.625 this morning. Last night in the store I heard two couples talking that rates were to high to refinance now...so I pardened myself for interupting and asked, "what are the rates now?" and both couples said...we don't know but their still too high...yes I corrected them and gave them both business cards...but I haven't had a call yet this morning....?

Dec 06, 2007 07:13 AM

Joseph Ellman

Realty Executives- Williams-Sykes Realty - Poughkeepsie, NY

Steve - great topic! Is it the sellers, the buyers, or the media?? Joe

Anonymous

Conrad

I think that because you say that it is a buyers market, you have to look at it from an economics point of view. Supply and demand. The uncertainty or lack of confidence in the mortgage market has made buyers wary and waiting to see what happens. Thus less buyers, causing sellers to have to compete more.

Dec 06, 2007 07:17 AM

Michael T.

I was recently looking in the Colorado Springs Real Estate market and agree that it is a buyers market (ps: I love your website). However, with the holidays rapidly approaching and some uncertainty as to who will be in the White House next, I decided to hold off. I'm not sure how much longer this market will last, but after the elections, things should pick up at least in the short-term. When I am ready to relocate to Colorado Springs, I'll let you know as I really like your website and found it to be very user friendly and with lots of helpful info.

-Michael

Dec 12, 2007 04:11 AM

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