This article is a reflection of how changes in the housing market are affecting a Buyer's perspective to purchase a home. A Realtor benefits Buyers in this housing market. Having a Buyer's Agent alleviates stress during the contract process, especially during challenging multiple offer situations. Remember, when the transaction process gets dicey, your Realtor is the person who represents you!
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Survey: Buyers Think Market is
Shifting Against Them
Redfin finds buyers demoralized by competition for limited inventory
BY INMAN NEWS, WEDNESDAY, AUGUST 29, 2012.
A survey of 982 prospective buyers in 19 markets by tech-based brokerage Redfin shows an increasing conviction that home prices are on the rise, and a growing reluctance to get into multiple-offer situations.
"Many buyers who emerged from hibernation this spring eager to take advantage of low rates and near-bottom prices now seem to have become demoralized by the intense competition for a limited selection of homes for sale," the company said today in releasing the results of the survey, which was conducted Aug. 16-22.
Seven in 10 of those surveyed said they'd encountered competition on at least one offer, and 31 percent said they'd back off when faced with multiple-offer situations, up from 28 percent during the second quarter.
While 46 percent believe now is a good time to buy, that's down from 56 percent during the first quarter. And 32 percent think now is a good time to sell, up from 13 percent during the first quarter -- further evidence that would-be buyers think the market may be shifting against them, Redfin said. Read More>
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Rick Reed, G.R.I., CDPE- Certified Distressed Property Expert
Assoc. Broker/Owner "The Congressional Team" RE/MAX
Licensed in MD & Wash DC
8937 Shady Grove Court
Gaithersburg, MD 20877
Office: 240-403-0399 X306
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