With all the media messages hitting buyers these days, what are some of things that you are hearing from your buyer clients?
Several buyers have asked me if banks are still lending money. Another fallacy is that you need perfect credit or a large down payment to purchase a home.
A big objection/issue I get is that buyers don’t want to buy at the ‘bottom’. While that is a valid concern, no one really knows when the bottom has hit until 3-6 months after. With any bottom, in the real estate recessions and in the stock market the data is such that the turnaround has already happened when people start to realize it.
I advise my buyer clients to assess their current employment situation and their cash ‘cushion’ and then decide if purchasing a home is right. NO ONE is flipping homes these days, so consider that in 5 -10 years of living in a home you should have a nice appreciation. Waiting a few months will not affect that in a 5 – 10 year time frame.
What do you think? What have you heard?
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