Buyer's Paralysis is Over!

By
Real Estate Broker with Coldwell Banker Residential

Buyers have been paralyzed with fear for years.

They've been staying away from homes in Droves.  Sitting on the sidelines, waiting for ... well, waiting for...

*  Sellers to come to their senses
*  the market to hit the bottom
*  Economists to tell them it's okay to buy
*  Prices to return to 1999 rates
*  Interest rates to drop below X %
*  Common Sense to return

and any number of other landmarks... lots of them were just sitting waiting for some "unknown"....

Well, whatever it was, whatever they saw.... whatever they were waiting for, must have arrived, because buyers in my area are out there in large numbers.  They seem to be out in mostly the lower price points (which in our area means under $300,000)... and many of them seem to be first-time buyers pursuing that $8,000 first-time homebuyer's tax credit.

It's like the swallows returning to Capistrano.  We're all happy to welcome them back.

Posted by

 ALAN MAY, Realtor®
Specializing in Evanston Real Estate and North Shore Real Estate

Coldwell Banker Residential Real Estate, 2929 Central Street, Evanston, IL 60201
847.425.3779      Cell: 847.924.3313      Email: Almay@aol.com

Evanston Real Estate & North Shore Real Estate
Licensed in Illinois

   

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Ambassador
958,167
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Jane - sending it over now.

Barbara - high living indeed.

Jason - I hope it lasts through October (allowing 30 days to close prior to Nov. 30th)

Janna - here, most of our loans are Prime, Select or Choice... (ha, ha.. I crack me up!)

October 17, 2009 07:30 AM
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Larry Story
Total Care Realty, LLC, Greensboro, NC Real Estate
Total Care Realty

Alan,

Oh I have been working with many of those "swallows" out there.  One other thought is that you know what you need to do with that many birds flying overhead.  Don't get pooped on.  Many of these people don't have the moral compass that the usual buyers we work with have.

October 17, 2009 10:12 AM
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958,167
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

don't worry, Larry.  I'm watching my back.

October 18, 2009 10:48 AM
Anonymous #11
Anonymous
Anonymous

We've been booming out here in the under $500,000 category since President Obama took office in January. I suspect it has a lot to do with his economic policies because the military has been a huge beneficiary of those policies, and we're a huge military town.

October 19, 2009 04:10 AM
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Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Russel - sounds like that'd do it.

October 19, 2009 08:30 AM
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Alan May

Evanston & Northshore of Chicago real estate
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