This week, two of my Buyers finally found the homes they had been looking for — and in both cases, both of them wrote offers the first day on market, facing competition in both cases.
At the same time, similar homes in the same neighborhoods – in fact, in one case, directly across the street – lingered.
In both cases, my Buyers knew from reviewing the comparable sales that these other homes were overpriced. And in both cases, neither of them “wanted the hassle” as one of them said of dealing with unrealistic Sellers whom they perceived were going to be difficult.
Not my words. Theirs. And pretty astute for first time home buyers.
It seems today’s first time home buyers are availing themselves of the wealth of information that is out here about the home buying purchase. What they lack in experience they more than make up for in education – and they are doing a great job (at least in my opinion) – of studying the market and knowing where houses should be priced.
Does make you wonder why it’s so difficult for some Sellers to figure out the same thing, doesn’t it?
When a Buyer recognizes a well priced home they perceive to be a good value, then they are going to jump on it — and often with competition from other Buyers who are seeing the same thing.
And when a Buyer sees a home that isn’t quite as nice or isn’t priced as well, then that house is going to sit.
It really is that simple.