WAITING TO BUY

02.07.08

It would appear that there is a contingent of buyers playing the "waiting game", hoping perhaps that they might see prices falling around the area. Although there are a few categories where this is true, in general I expect many prices to remain where they are, with little seller desire to give back much more should they be faced with any offers significantly below their asking price.

There is some factual knowledge in the above, of course, as my clients are talking all the time to me about their "plans". Any advice given to clients is always "property specific", for reasons that are outside the "stories" you might be reading in the newspapers.

There are many "It's a great time to buy" statements being made by agents and agencies in their advertising pitches, hoping to drum up activity. For agents/agencies who represent sellers (and most are), it is a questionable "slogan" to use, in my opinion.

However many real buyers there are currently out there, those who are actively out looking to buy now are indeed making some intelligent decisions. Their money is plentiful and mortgage rates are at excellent levels (for those with good credit), if they wish to finance their purchase.

If anything is good about the current "conditions", it's that it has weeded out marginal "lookers" who have spent months "window shopping" the area at our (the agents) expense. Looking activity today usually can mean a purchase shortly thereafter.


©2008, R. Leech features