Monday, October 29, 2007
Buyer's Difficulty in Today's Market
I have written several offers for homes the last couple of weeks and the sellers have been countering very strong. The offers have been fair based on the recent sales. Expecting full price on a home 6 months on the market? What are they thinking? It is difficult on buyers. They already face the pressure of so many homes to choose from, market timing (not wanting to buy now and have it be worth less in the future) and all the mortgage issues. So, we write a fair offer on a home and we get a counter that is $5,000 from full price. Come on do you want to sell or what? I have several sellers that would love the offers we are writing. I don't know what they are thinking, but it hurts the overall market. I would have 3 other sales, no the market would have 3 more sales. Plus the other sales from other buyers like mine. They don't want to over pay. The more sales that occur, the quicker the market will improve. So sellers, be realistic on your price and realistic on your counters. Let's get some homes sold!
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