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

By
Real Estate Agent with RE/MAX Advantage
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?
Posted by

 

Steve Prewitt
RE/MAX Advantage Realty, Inc.
ABR- Accredited Buyer's Representative
CDRS- Certified Distressed Resolution Specialist
CIAS- Certified Investor Agent Specialist
CLHMS- Certified Luxury Home Marketing Specialist
Cell 719-439-0241│ Office 719-388-8444 │Fax 719-388-9222
www.SellingTheSprings.comwww.ColoradoSpringsRealEstatePage.com
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Comments (4)

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
Dec 06, 2007 07:13 AM
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
#3
Anonymous
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
#4