THE SPRING MARKET IS HERE....WHERE ARE THE BUYERS?

By
Real Estate Agent with Weichert Realtors Spring House
The Spring Market is here - but there are way too many buyers still on the fence.  They have the credit.  They have the down payment.  They have the stable jobs.  Yet, they stay on the fence.  They need to see some positive press to move them off! Someone recently said to me that if today's real estate market was the car industry, people would not be as reluctant to make they purchase!  Plenty of product, great prices and great interest rates.  Granted, home buying is a major purchase, but if you are in the market for a car...then you make the purchase.  If you are in the market for a home, then why not get serious and buy? The FED cuts rates, the market responds in a positive fashion yesterday and then today it appears to be going in reverse. Open Houses are abundant, phone calls to schedule showings have increased dramatically over the last few weeks.  But the serious offers are still not plentiful.  Now, today's Philadelphia Inquirer describes the plight of the retiree's (but one segment of the potential market) who invest in CD's and point out that as the FED has continued to cut the rates, the yields on CD's have continued to fall.  Thus, possibly the retirees who are considering the right-size move have seen some of their income vanish! In every market their are positives and negatives.  Continually focusing on the positives from all segments of the media and business alike will eventually right the ship.  In the interim, it is going to take the real estate professionals to educate the potential buyers in the market today what a great opportunity can be afforded them.
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Rainer
8,957
Suzanne Leedy
McEnearney Associates - Alexandria, VA
CRS, epro500

Hi, Charlie...I was in the same situation until i discovered an article in Time magazine,  Feb 25, explaining how costly it would be for buyers to wait.  Go to http://www.time.com and search for "Ignore the Headlines" and pass it on to all those fence sitting buyers.  I gave it to four and two are looking pre approved!!

Good luck with your.

Suzanne Leedy

Virginia Agent

Mar 19, 2008 06:07 AM #1
Rainer
16,293
Barbara Rissmiller
Tucson, AZ
There is definately way too much bad press going around.  "Don't buy a house now, it's too risky."  Are you kidding me.   There are tons of prospective buyers out there but they have been brainwashed to believe now is not the right time to buy.  How do the re professionals fight against the media?  These buyers need to simply understand that buying now while the market is low is the perfect opportunity to set up for a great furture.  In two to three years they'll be in a great equity position and the refi boom will soon be around.    Argh. 
Mar 19, 2008 06:07 AM #2
Rainer
2,658
Charlie Hoffmann
Weichert Realtors Spring House - Montgomeryville, PA
Realtor - SRES

Suzanne;

    Thanks for the tip.....good article - I am certain I will need to use it going forward in these times

 Charlie Hoffmann

 

 

Mar 19, 2008 06:30 AM #3
Rainmaker
249,621
Scott Guay
Berkshire Hathaway Home Services PenFed Realty - Ocean Pines, MD
Associate Broker. Ocean City and Ocean Pines MD
That Time Magazine article is the best.  That news needs to get out.
Mar 19, 2008 07:00 AM #5
Rainer
30,817
Becky Respess
Broker/Associate Century 21 Judge Fite Co - Cedar Hill, TX
ABR, CRB, CRS

Suzanne and Charlie,

Great article! We have a similar problem in Texas except the buyers want a bargain. The media has convinced them we have a distressed market which is not true in Texas. I practice writing a lot of contracts(low ball offers) before the client realizes the bargains are not as great as they thought they were. All it takes is to loose the house they wanted a couple of times.

 

Apr 10, 2008 12:21 PM #6
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