Big Island Buyer\’s Brokers

Two real estate articles appeared on line today, one in Google and one in the Los Angeles Times. Both talk about the necessity of cutting prices if you have a home to sell in today’s Buyers Market. Both are worth reading, and we encourage you to click on the links above and see what they have to say.

I great friend sent me an email asking why folks shouldn’t just wait for the bottom of the price slide and buy then? Why buy now? Mind you, this guy is not ignorant by any stretch of the imagination, and his question was legitimate.

Here are some good reasons for not trying to wait things out:

1. There may be just a very few properties, or even just one, that you would buy in the first place. It may not be available when you think the “bottom of the market” has arrived.

2. You will likely have competition for any great property once you think the “Bottom of the market” has arrived. that competition will drive the price back up, and you will be helping!

3. You will not be able to negotiate as effectively once everyone thinks the market has bottomed out and prices are going up again. By then the Seller will have adjusted to hardship and will be more likely to wait for the new Sellers’ market to help him find a better buyer than you.

4. You will not have the enjoyment of the property during that period of time that you were waiting. That’s silly! How many years do you have left to enjoy, say, a beach house or a mountain cabin? Are you willing to throw a couple of those years away?

The only reason folks usually give for waiting is that they want to save as much money as they can. Fine. Just decide what you are willing to spend and start making offers.. If you are refused, just make your offer again … and again. Be polite and be persistent.

Imua,

Bill Jardine

Filed under: Updates