Beware: The Perfect Storm ...

By
Real Estate Agent with RE/MAX Alternative, Melbourne FL

Today's buyers are navigating difficult waters.  Faced with tremendous inventory, lower prices, great interest rates, and willing sellers,  buyers are overwhelmed.  The moon and stars are beautifully aligned for them and yet it's not enough.   Today's only priority is getting a "great deal" or "stealing it".   What happened to the "location location" rule?  What happened to quality of life and nice neighbors? When did "are these sellers desperate?" become the major criteria in choosing one's home? 

Caution:  very rarely will the perfect elements come together and still be a "steal of a deal".   Buyers should not succumb to the pressure of co-workers or friends bragging on their housing conquests.  If the deal is that great, they've compromised somewhere.  It's called the perfect storm for a reason.  The likelihood of finding a beautifully maintained home, a perfect location, super upgrades AND a desperate seller willing to take a low-ball offer are almost nil.  Chances are better of winning the lotto. 

Buyers should remember to keep real-life priorities in sight.  This will be a "home".  This is personal;  you will be there every day.  Be careful not to allow false hopes for "the perfect deal" to steer you into a storm.  Chart the right course for a "Happy Home" !

Comments (3)

DEBORAH STONE
Balboa Real Estate San Diego, CA - San Diego, CA

I agree with you. The media & the "doom & gloom" & the "bad econmoy" you hear from every newspaper, & news broadcast doesn't help. Buyers are almost predatory in their search, hoping to prey on someone else's misfortune. All we can do is educate them about the realities of the market. Bargains do exist, but there are other priorities that come into play.

Jun 27, 2008 03:27 AM
Aaron Williamson
WestUSA Realty - Phoenix, AZ

When you are dealing with an investor, they sort of have an equation they use.  Basically, if I buy it can I do X amount of work and sell it for a profit.  There seems to be an absence of feeling.  If it is someone buying it for themselves, let's say a first time homebuyer, there is a lot of emotion.  Right now they are standing a chance of finding something they can actually afford to buy.  If the Sellers feel like their house is being stolen (steal of a deal) the odds are the buyers are feeling like they are making a right choice.  Whenever someone is buying a house for a home, nicer usually costs more, and I hope they will be able to afford whatever they buy (agree to pay for over time) and not starting out with a course charted for stormy waters.

Jun 27, 2008 03:42 AM
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Investors are a different story, but some first-time home buyers -- those who make up the bulk of our market movement in Sacramento -- are frightened, and when they become uneasy, they tend to want the best deal out there. And frankly, I don't blame them.

elizabeth weintraub sacramento real estate agents

Jun 29, 2008 04:23 AM