Home Buyers - Time for a Change?

**gobransonhomes** · 08-26-2009, 02:11 AM

We got an email this week. This email led to the following blog post, sharing something that is a symptom of the real estate market today.

The email was from a prospective home buyer (a couple) who had seen us online, and read reviews of us online, and emailed us stating that they wanted to work with us to buy a home.

At their (email) request, we called this prospective home buyer. In the course of the conversation it was revealed that they had made offers on several properties, only to be "beat out" by other buyers. They were frustrated, upset, confused ... wondering why this was happening. After all, it's a "buyer's market", right?

**tucsonhomes** · 08-26-2009, 01:55 PM

Originally Posted by gobransonhomes

We got an email this week. This email led to the following blog post, sharing something that is a symptom of the real estate market today.

The email was from a prospective home buyer (a couple) who had seen us online, and read reviews of us online, and emailed us stating that they wanted to work with us to buy a home.

At their (email) request, we called this prospective home buyer. In the course of the conversation it was revealed that they had made offers on several properties, only to be "beat out" by other buyers. They were frustrated, upset, confused ... wondering why this was happening. After all, it's a "buyer's market", right?

All real estate is local. Specific markets have specific results. The bottom price ranges of the current market are being highly effected by the first time homebuyer's tax credit. Multiple offers, especially on REO homes that are agressively priced in the first place, often attract many offers and even sell for more than the asking price.