Right now there are NOT many buyers in the market ready to buy a property. Why not? Before May there were so many buyers that mostly all listings got multiple offers and the prices went up. I personally wrote up to 7 offers for some clients before their offers got accepted.
Then the tax credit disappeared and so did the buyers.
BUT.........
What are they waiting for?
A new tax credit? As far as I have heard there is no hope for more help in in that direction
Lower interest? The interest rate is incredible low but the rate looks
like that it is on its way up
Lower house prices? Some areas might go down more in price but if the interest
rate at the same time goes up the mortgage might be the same
More houses on the market?The inventory is quite big now. There are many houses for
sale. So don't let that be a hurdle.
Improving Local jobs? The Valley is emerging faster from recession and took a
much softer blow than the hardest-hit communities
nationwide or elsewhere in California.
Stocks up? Stocks went up 50% from their March 2009 low and various
commodities rising dramatically, some analysts believe that
leaves real estate as the only asset class still under
valued.
Multiple offers? Not many properties get multiple offers. Buyers have often
time to think about giving an offer.
Negotiation? Sellers are eager and willing to negotiate. That's true
whether it's tradiotional owners, bank-owned properties or
short-sales.
So my advice is, buyers get out and look for your new home! There are so many reasones to do it now.
If you want my help, you know, I will be there for you.
Marianne
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