In the recent past market, Rainmakers were shooting fish in a barrel. Now the barrel is a small pond – and there are fewer fishermen. (We just learned that the Las Vegas board, for example, has 26% fewer licensees in 2009 than 2008.)
After the current housing market has shifted, real estate will still be here. In the upcoming market prices won’t be zero. But there will be fewer Realtors.
Before the turn, Rainmakers used to deliver only good news. Now we deliver reality.
Now is great for buyers. Yes, some buyers are waiting longer to buy – “after the market bottoms” (Mistake #1) Yes, some buyers are looking to make the “buy of the century” at 60-cents on the dollar (Mistake #2). Other buyers are worried about paying too much; still others worry about losing their job, or about getting jumbo financing. Now is a good time to buy especially if buyer has a 5-7 year plan to live there because the eco-boomers are coming in that time and will be driving demand again.
What kind of moves are buyers making in your area? Can you add to the list of mistakes you see buyers making in today’s market?
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