Cindy's Blog

Well, once again, it seems, I must apologize for the long delay in postings, but things have fortunately been quite busy. Things are definitely picking up in the market- more buyers are out, more people are looking, and inventory is becoming more in line with the demand. However, it seems that (perhaps because of the media) people have a notion that sellers are so desperate they should accept any offer.

Hopefully that is also going to balance out soon as well. While we are still indeed in more of a buyers' market, every seller has their own motivation, and not everyone is terribly desperate. There are definitely more short sales and foreclosures in this market, but while most sellers do expect to receive a lower offer, there is still such a thing as an insulting offer. In many situations, a 5% reduction in the price is expected, but it seems recently more buyers are thinking a 20% or more reduction is reasonable, even when a home is priced accordingly.

All in all, there are still deals out there, and there is no doubt at all that it is a great time to buy, with the interest rates still quite low, more inventory and more motivated sellers, keep in mind that it is a good idea to look closer to the price you're able to pay, rather than assume you can look at homes well beyond your price range and get them for tens of thousands of dollars less than the seller is asking. (Not that this doesn't happen on occasion, but it's definitely the exception, rather than the rule).