It's a Buyer's Market, So What Are You Waiting For?

By
Real Estate Agent with Long & Foster Real Estate, Inc., Crofton, MD 21114

Maryland residents know that we're in a buyer's market, yet there are prospective home buyer's still sitting on the sidelines, risking every day that market conditions could be less favorable for them when they finally get into the game. 

The situation kinda reminds me of this cartoon:

Cartoon Fish - Credit R. Bolen

The procrastinating fish isn't really going to enjoy any benefit by (1) waiting for a bigger worm or (2) taking the bait now.  He's going to end up on someone's dinner plate, whichever choice he makes.

On the other hand, a procrastinating home buyer will benefit from taking advantage of today's buyer's market:  He and his family can start enjoying that bigger home in a better neighborhood NOW.

My advice:  Stop making excuses!  Finish those repairs to your current home so you can sell or rent it and buy another home... File that late tax return so you can qualify for a home loan... Make an appointment to see some available homes today - you will probably be amazed at the opportunities available now.

 

How many ways can we say this? It's a Buyer's Market!

shame on you!

Es un mercado de compradores (Spanish)

C'est un marché d'acheteurs (French)

這是一個買方市場 (Chinese)

Es ist ein Käufermarkt (German)

Đó là một thị trường của người mua (Vietnamese)

É um mercado comprador (Portuguese)

Translations:  Google Translate

Last but not least...

No one wants to hear those dreaded words from mom, "I told you so!" - If you don't take advantage of this buyer's market and you blow the opportunity to raise your children in a better neighborhood, she'll haunt you forever with those words ringing in your ears. 

Just sayin'...

Cartoon:  Thank you, Richard Bolen

 

Posted by

Margaret Woda, Long & Foster Real Estate, Inc.
Military Residential Specialist (MilRES®)
(410) 451-6245    mwoda@mris.com

Margaret Woda

 

Search for homes and explore the pages of MargaretWoda.com at your own pace and convenience. You'll find information about homes, communities, military relocation, and the home buying or selling process throughout the greater Crofton area. It will be a privilege to help you, and disappointing you is simply not an option!

 

Information contained in this blog post is reliable on the date of publication, but it is subject to change without notice.

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Ellie McIntire 03/28/2011 09:52 PM
  2. Barbara Michaluk 04/13/2011 05:50 PM
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Show All Comments
Rainmaker
687,145
Patrick White
Home Driven Realty, Inc - Baldwin, NY
Put our 28 years experience and technolgy to work

Good Morning Margaret

Thanks for the post and information. It is a buyer's market ;-). Have a good day.

Mar 15, 2011 08:31 AM #1
Rainmaker
271,163
Alan Gross
PrimeLending, A PlainsCapital Company - Bethesda, MD

Not only are the home prices down and they are starting to stabilize and head up in the Washington area, but interest rates are rising. The rising rates will push some potential buyers out of the market and make it more expensive for others.

Mar 15, 2011 08:49 AM #2
Ambassador
395,274
Terrie Leighton
Ferrari-Lund ~ Reno's Premier Real Estate Company - Sparks, NV
Reno Real Estate Agent

I have a feeling there will be many who wait to long and will be kicking themselves for not taking advantage of the current buyers market!!

Mar 15, 2011 09:32 AM #3
Rainmaker
311,259
Glenn Roberts
Retired - Seattle, WA

I recently read a book called Influencer but haven't seemed to mastered the technique yet. I've told many buyers that they should buy but most haven't made the move.

Mar 15, 2011 09:39 AM #4
Rainmaker
473,267
Steve Scheer
Realty Oasis - Metro Brokers - Highlands Ranch, CO
Highlands Ranch Real Estate - Denver Real Estate

You are right Margaret, so many are waiting and then disappointed when they find out they have waited too long when they find out the home they had their eye on is now gone.

Mar 15, 2011 10:40 AM #5
Ambassador
1,530,426
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Margaret, he who hesitates is lost and with the opportunities out there while mortgage rates are still low and the PMI insurance hasn't gone up as yet. It's money in their pocket.

Mar 15, 2011 12:33 PM #6
Rainmaker
330,804
Judy Jennings
508-209-5000 - Plymouth, MA
Sales Director

Margaret - Nice touch with the different languages and the cartoon. Hopefully your procrastinating buyers (and mine) will get the message soon.

Mar 16, 2011 06:56 AM #7
Ambassador
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Margaret Woda
Long & Foster Real Estate, Inc., Crofton, MD 21114 - Crofton, MD
Maryland Real Estate & Military Relocation

LOL... This was inspired by someone very near and dear to my heart.  I just wnat to shake them and say, "What are you waiting f.or - REALLY?"  So many excuses and nothing real.  I know they're going to regret waiting.

Patrick, thanks for your comment.

Alan, you're right on!

Terrie,  I agree.

Glenn, Maybe I should check out that book.

Steve, I fear this combination of interest rate and prices will not last forever, and procrastinating buyers will los.

Ed, Have you figured out the magic words?  I can't get through to some folks who know they need to move, have the means to move, and are simply procrastinating.

Judy, Thank you!  I love that cartoon, and I contacted Richard when they first posted it... I think 2006-2007.

 

Mar 16, 2011 07:56 AM #8
Rainmaker
648,019
William James Walton Sr.
WEICHERT, REALTORS® - Briotti Group - Waterbury, CT
Greater Waterbury Real Estate

Timely message, Margaret. I hope all of the buyers out there are listening, for all of their sakes. Where's that reblog button when you need it???

Mar 16, 2011 10:02 PM #9
Ambassador
891,803
Margaret Woda
Long & Foster Real Estate, Inc., Crofton, MD 21114 - Crofton, MD
Maryland Real Estate & Military Relocation

William - I think it's there! (the re-blog button)  Anyway, I know too many people who could read this and think it's just for them.

Mar 17, 2011 10:14 AM #10
Rainmaker
191,284
Janice Sutton
1st Stage Property Transformations - Murrieta, CA
Home Stager - Temecula Murrieta

Very cute post with a BIG message!  Hope everyone is listening!! :)

Mar 24, 2011 07:19 PM #11
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Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
CDPE, Howard County Homes for Sale

YUP. Very glad the re-blog is working again. Great Maryland motivational post.

Mar 28, 2011 09:53 PM #12
Rainmaker
451,058
Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR
BROKER of Green Realty Properties® - 954-667-7253 - Davie, FL
Top Listing Broker

Margaret, buyer who are waiting for the "right time" or for the "bottom" just might miss the proverbial boat all together.

Mar 29, 2011 08:49 AM #13
Ambassador
774,950
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise in NE Philadelphia & Bucks County

Margaret..What a true and adorable post ..especially about mother told me ..Thanks

HelpfulHannah

Mar 29, 2011 04:54 PM #14
Rainmaker
618,527
Thom Abbott
MyMidtownMojo.com Thomas Ramon Realty - Atlanta, GA
Midtown Atlanta Condos For Sale

It's like the perfect storm....people should be buying because of the great opportunities...yet they are waiting.

One of my investors may be jumping in again...thank goodness!

Great advice for those Buyers' that are waiting for that worm to get bigger!

Search Metropolis Midtown Atlanta Condos For Sale

Mar 29, 2011 10:03 PM #15
Rainmaker
240,005
Joyce Godwin
12810 Telge,Cypress,TX 77429 -Houston,Cypress,Spring,Tomball - Cypress, TX
RE/MAX Realty Center, Houston Area Relocation Info

Margaret,  With interest rates as low as they are, potential buyers who are renting, should really think twice before "waiting."  And sellers who don't want to sell because they aren't getting what they want for their current property, should rationalize that they will probably be able to make it up on the property they purchase -- and at a lower interest rate than they may get later.  Cute cartoon.

Mar 30, 2011 04:35 PM #16
Ambassador
338,598
Emily Medvec
Keller Williams Santa Fe - Santa Fe, NM
Realtor, Santa Fe NM |CNE CRS RSPS | 505-660-4541

Waiting is not an option in a buyer's market. I still remember when they were off the fence so fast in a seller's market. There is a disconnect for some still waiting for the "bigger" worm per your graphic image, however, the smart ones are taking advantage of interest rates and often figuring out a way to finish their dream of their next move. Good post!

Apr 09, 2011 07:25 PM #17
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Margaret Woda

Maryland Real Estate & Military Relocation
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