Monday, February 25, 2013

If You Are Still Sitting on the Fence, It is Time to Get Off

Things have changed in the last year in the home buying market.  A year ago, there were so many homes available that buyers had plenty of time to look and then make up their minds on a property. They could keep a list of their favorites and a month later, go back and look at their top 4 or 5.

Alas, this is no longer the case.  Today homes which are priced correctly and updated or taken care of, are selling within 30 days or sometimes sooner.  The last 4 properties I have written an offer on, have had 2 or more offers.  Some of these properties had been on the market for a year or longer.  But, beginning right around Thanksgiving, things turned around.  Buyers were buying as inventory went down.

A year ago, a buyer could tell me that they wanted to spend $100,000 or less on a 3 bedroom home.  I would be able to send them a very long list of homes for that price.  Today, there are very few of those left and most of the those need some work.

A year ago, there were foreclosures everywhere.  Again, not true today.  There are very few foreclosures left in the suburbs and, even certain areas of the City of Milwaukee have few foreclosures left.

If you are in the market to buy a house, the time is now.  If you see the house you like, jump on it. Don't wait until someone gets the jump on you.

For more information on home buying or selling, call me at 414-207-3953
Nina Kraus
Coldwell Banker Residential Brokerage

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