BARGAINS EVERY WHERE?

05.21.09

Watching the price reductions come across my computer almost daily, there is no question that there is a window of BUYING opportunity opening up throughout most sectors of residential real estate listings throughout our NW corner and nearby NY and Mass areas. Beyond the "advertised" reductions, there are many (more) cases where owners are ready to talk. Talking to me can get you to those properties.

The buyers are so savvy right now that, in most cases, they are not choosing to respond to, and look at, any property offering that doesn't look like either a real deal, or is otherwise advertised at a (very) fair price. They are watching the web sites and ads like hawks.

The same response problem is happening for summer season rentals. If they are at the higher prices of the past seasons, they are not calling up to see those offerings. This seems particularly true for places south of us, such as the Washington area. Last minute shoppers are looking only at/for the lowest advertised offerings for rent.

I have been noting these points in past columns; this confirms to me the 'consumer' is scaling way back on housing expenditures and looking mostly only for the 'bargain' offerings, in this current economic climate.

©2009 R. Leech features.