WASHINGTON – April 27, 2011 – With falling home prices and higher inventories, most of the public views real estate as a “buyer’s market,” in which buyers hold more of the control and sellers will accept lower offers just to sell.
Not so fast, say buyers and sellers. More buyers are finding the sellers in the driver’s seat.
Buyer Young Hammack gave up looking for homes for a while after being outbid on three properties in California. “It’s a false buyer’s market,” Hammack says. “If you think prices are cheap, wait until you start putting offers in.”
Many sellers may be unable or unwilling to lower their home prices – mostly because they may be underwater on their mortgage – so buyers are increasingly finding lower offers than list price denied. Buyers, on the other hand, may be reluctant to agree to a deal if they don’t feel like they are getting it at a deep discount, industry insiders say.
Traditional buyers also are finding even buying a foreclosure can be difficult as they’re increasingly outbid by investors willing to pay cash.
Red More at:
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=259226
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People want to buy houses. They want to buy a home. Banks move very very sloooooooow. Investors move fast and have cash. Investors have been forced to learn to have patience with banks and know how to deal with the red tape that banks use as excuses.
Force the banks to get rid of properties in stead of holding on to them. Can the buyer move fast? Do they have a down payment? Can we Create a mortgage to sell this property? Closer to the deadline the more the banks should want to sell it.
Let move these properties!
Not so fast, say buyers and sellers. More buyers are finding the sellers in the driver’s seat.
Buyer Young Hammack gave up looking for homes for a while after being outbid on three properties in California. “It’s a false buyer’s market,” Hammack says. “If you think prices are cheap, wait until you start putting offers in.”
Many sellers may be unable or unwilling to lower their home prices – mostly because they may be underwater on their mortgage – so buyers are increasingly finding lower offers than list price denied. Buyers, on the other hand, may be reluctant to agree to a deal if they don’t feel like they are getting it at a deep discount, industry insiders say.
Traditional buyers also are finding even buying a foreclosure can be difficult as they’re increasingly outbid by investors willing to pay cash.
Red More at:
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=259226
===========================================================
People want to buy houses. They want to buy a home. Banks move very very sloooooooow. Investors move fast and have cash. Investors have been forced to learn to have patience with banks and know how to deal with the red tape that banks use as excuses.
Force the banks to get rid of properties in stead of holding on to them. Can the buyer move fast? Do they have a down payment? Can we Create a mortgage to sell this property? Closer to the deadline the more the banks should want to sell it.
Let move these properties!
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