Special offer

Can today's home buyer afford to wait any longer?

By
Real Estate Agent with Diamond Partners Inc 00244377

So, you that think you're not yet ready for a home purchase? Because why? This summarizes conversations I had this past week with the "just looking" crowd of potential home buyers. These are buyers who attend open houses but are just not ready to commit to a Realtor. They are in the preliminary stages, just thinking about making a move ...not really sure.

I don't think home buyers like aggressive real estate agents, unlike sellers who seek out the go-getters of the business. Realtors need to know how to wear different hats when working with buyers and sellers. The same seller who wants quick and immediate action from his or her real estate agent would like to walk into an open house and NOT be greeted by an overzealous Realtor. A real estate agent needs to know how to read people, how to back off to an extent and to give potential buyers their space.

I hope all these buyers are reading the news and watching TV reports about how interest rates are quickly raising the price of homeownership. Those who said last month that they wanted to stay put for a little while longer are probably kicking themselves today.

The average 30-year fixed rate climbed from 3.35 percent at the beginning of May to 3.98 in mid-June, this is according to The Kansas City Business Journal's article today:

http://www.bizjournals.com/kansascity/news/2013/07/05/mortgage-rate-increase-could-prompt.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+vertical_53+%28REITS+%26+Finance+Industry+News%29

The article explains why waiting to purchase a home can be a costly mistake. According to Mike Kelly, an officer with Cornerstone Home Lending "Maybe a couple of months ago was a better time to buy than now," Kelly said. "But you have to compare today to what it will be like in six months or a year."

I think every Realtor needs to print articles like this and hand them out to every "just looking" kind of buyer who walks into an open house. Perhaps, this is the stuff that should make buyers believe they need a Realtor to set things in motion ...now, instead of waiting, looking and waiting some more.

Well done, Kansas City Business Journal!

 

 

Posted by

_____________________________________________________________________________

Carol Culkin - REECENICHOLS REAL ESTATE

Carol Culkin - Licensed Real Estate Salesperson for ReeceNichols Real Estate, is your source for real estate in Overland Park and the bordering cities of Leawood, Olathe, Mission, Miriam, Lenexa and Shawnee, Stillwell and Spring Hill. Carol has been ranked as an award winning agent and offers her clients over 10 years of real estate experience.

PROFESSIONAL AFFILIATIONS, DESIGNATIONS AND COMMUNITY INVOLVEMENT:

Member of National Associations of Realtors®, Member of Kansas Associations of Realtors®, Member of Kansas City Regional Associations of Realtors®, Member of Heartland Multiple Listing Services, Accredited Buyer's Representative (ABR), Seniors Real Estate Specialist (SRES), Red Cross Volunteer - Greater Kansas City Chapter, Supportor of Cross-Lines Community Outreach.

 
 

ReeceNichols Real Estate

8001 College Blvd Suiite 100

Overland Park, KS 66210

Office: (913) 451-4415
Cell: (913) 333-8310
   
 http://www.overlandparkhomelocator.com/  
 

                                 

 

Comments(4)

Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Carol, a buyer that knows they want to buy and finds a house that satisfies the majority of their wants should make the move as not only are interest rates rising, but the competition for that special house is getting fierce

Jul 12, 2013 06:58 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Carol, the "just looking" buyer is annoying to themselves and even the agent. If interest rates RISE and who knows, they only hurt themselves financially when they sign on the dotted line. BUY when you have the need if you are qualified. PULL THE TRIGGER darn it. If they KEEP sitting on the fence, they just are not serious, or SOMETHING ELSE truly in their life is bothering them, job stability, a relationship problem, a terrible INDECISIVE or overly analytical personality, SOMETHING!! You just have to find a way to light a fire under their butt...

Jul 12, 2013 09:16 AM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Carol it is time for buyers who really want to buy to get off the fence.  According to CNN Financial the rates are over 4.  We know what a difference a small increase can make in the monthly payment.

Have a great weekend.

Jul 12, 2013 11:05 PM
Chuck Mixon
The Keyes Company - Cutler Bay, FL
Cutler Bay Specialist, GRI, CDPE, BPOR

We all want the buyers to come out and jump off the fence. The media is doing what it can do to nudge buyers into action. In the fine print that not making the headlines, "Loans are harder to get ". Banks are not rushing out to make loans. Banks have been burned and are very cautious right now.

Here in Florida I looked at Zillow to get a rough idea what the market looked like, about 50% of the home in one neighborhood were upside down and under water by looking at the sale amount vs. market value.  No one is in a hurry to rush out, buyers or lenders. It's going to be a tough market and the good agent will come out on top. The same way you find the cream on the top.

Jul 13, 2013 04:26 AM