THE BUYERS ARE BBBAAAACCCKKKKK………………………….
I don’t know about anyone else, but it has been several months since I have seen a healthy amount of buyers in the marketplace. I received 3 calls this week from buyers looking to purchase and I bet I haven’t seen that many buyer calls in 3 months!
These buyers weren’t investors, just your traditional first time buyer or a buyer moving up! So finally, perhaps the interest rates have sunk in. With rates still hovering around the 4% level, it is just plain CRAZY not to be buying a home right now.
We all know that to spur the economy along we need to get some of this housing inventory moved. All I had been seeing for the last several months were the investors. Don’t get me wrong, investors are vital to the recovery of our industry, but I was longing to see the excited first time homebuyer EXCITED to be looking for their first home.
I love to tell them the story of when I bought my first home in 1985 and paid 17 ½ percent in an interest rate. I can see the look in their eyes wondering how anyone could be so stupid to pay that amount in an interest rate to purchase a home. I have wondered that myself sometimes!
What this story easily does, is cement the idea in their minds that they can’t pass up this opportunity. I am hopeful that the word will travel fast between friends, families and acquaintances that NOW is the time to buy.
All we can do is keep passing the good word and hope that it CATCHES ON! We need the buyers in the market place now, if we ever hope to get this big housing market ship turned around anytime soon
