With all the talk of the downturn in the real estate market one would think buyers can take as much time as they want to make a decision because the property will still be available while they make up their minds.
Well, my experience just the last few days has shown that not to be the case. I had one client write an offer on a property to find that she was competing with another buyer...it happens in any market. I can't tell you how many times I have shown a property that has been on the market for a long time then ends up in multiple offers.
The lesson here is...if you find a property you really like, don't wait...it only takes one person to buy and you never when that person is going to come along. If you're thinking about making an offer on a property, ask yourself how you would feel if you decided to buy and it was gone. If you find yourself feeling extremely disappointed or have knots in your stomach...it's time to make an offer!
I'm going out with a buyer today who had selected three properties to view. Since yesterday morning, one by one all three have sold! Now we're starting over with a new list...hopefully we'll have some properties to see today.
Interest rates have been on the rise...could that be inspiring the buyers who have been waiting to see what the market is doing to make the move?
Tuesday, June 12, 2007
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