What Happened to the "WOW" factor when buying a house?

By
Real Estate Agent with Buyer and Sellers Agent Greater Springfield
Yes, this week in fact, I had an offer in on a house for one of the buyers I am working with and there were 2 , yes 2 other offers submitted on this property. Do we, the realtors make this up? No we don't.  It happens, and it happens more times than I can tell you about. Buyers are taking their time to make decisions on homes that a appealing to other buyers. Spring is the time that buyers are out in flocks, houses are being shown, and buyers think they have to see at least 10-20 before they make a decision on putting an offer in on a house. What happened to the buyers who bought a house based on the emotion they felt when they walked into a house. What happened to the WOW factor?? Wow, I love this house. I have to have it, I want to buy it. Let's put an offer in on it! NOW. Where are those buyers. I become frustrated with the media informing the consumer that this is a buyers market. Well in the area I sell real estate, my buyers are becoming frustrated from putting in low offers on houses and the sellers refuse to make a counter offer. I suppose that is one way for the buyers  to realize the media doesn't have acurate information and that REAL ESTATE IS LOCAL!!

Comments (3)

Michael Carter
Barton City, MI
I think you are correct. The media does infuse a lot of pullution into the buyers mind. However, I also feel that the majority of buyers, for years, have been over extending themselves and high prices with rising taxes have left the buyer no other choice but to put a low offer in. I feel that as a Mortgage Professional and you, as a Real Estate Agent have a responsibility to make sure a buyer does not over extend themselves. It may be tough times now but understanding a buyers finances and how comfortable they are with a certain payment will only better our reputations as professionals and lead to greater profitability in the future. Now that the "exotic" loan programs are gone ( That I never agreed with ) , we are discovering what a buyer is actually willing to pay.....Probably the same reason the seller wants out. Lets just hope buyers make good decisions so we do not have another correction down the road..... But i know how you feel..lol
Apr 25, 2008 02:46 PM
Erin Newington
5305573559 - Grass Valley, CA
Sierra Foothills Realtor

Ditto Travis .....Folks have to put more money down these days and they now have "skin in the game" ! ?Buyers want to make the right choice!

Apr 25, 2008 03:05 PM
Nyles Courchesne
Peskin, Courchesne and Allen, P.C. - Springfield, MA
Massachusetts Real Estate Attorney
Yes, it has been unnecessarily slow these last few months.  There are too many properties on the market and far fewer Buyers than in past years due to the credit crunch.  It is a supply and demand issue that will likely bring prices lower!
Apr 26, 2008 01:56 PM