A ray of hope?
Maybe, but don't hold your breath. I've heard of several sellers who have accepted offers in the past few weeks but have not reported their houses as "under contract" because mortgage contingencies are taking longer to be met. So it's possible that last week's dismal performance (3 contracts all week, compared to 8-10 a day this time of year) can be explained and that we'll see the traditional surge of sales a few weeks later this year.
My personal feeling is that, while there are indeed buyers out there, they've been offering much less than the sellers are looking for and, so far, the sellers aren't bending. If the financial world collapses tomorrow, as seems possible given the seeming lack of progress resolving the Lehman mess, these sellers may regret their intransigence.
1 year ago
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2 comments:
That has been the mind set for folks in Florida and California: They refuse to "give their house away", even though they bought the house for 250K, and now could sell it for 400K five years later. The problem is their neighbors so the same house for 750K in 2005, so thats what they think the value is....that and the second they took out to buy a boat, plasma tv, and a Hummer H2.
What steps to you recommend - Chris - when it comes to accepting an offer - if the home owner accepts an offer - how will they know the 'buyer' will be able to 'Close the deal'?
What about the time that is lost - if the buyer - can not follow thru - and the property is 'on hold' during that 'lost time'?
It must be very discouraging for these home owners to accept an offer and not have the buyer be able to close the deal.
What should the 'home-owner' be asking from the buyer - that proves that the buyer is - indeed - a 'Qualified Buyer'?
Thank you for your consideration - we certainly enjoy reading all the comments - very interesting - very informative - and yes - sad too - may God Bless Sally!
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