Buyers Taking Their Time Are Losing the Homes They Want
Posted Apr 30, 2008 @ 11:41 pm, Viewed by 246 Visitors, Read 261 Times.The market is finally picking up in the southwest Chicago suburbs. I'm seeing more homes going under contract after buyers ask me to set appointments based on listings they received from me from their automated e-mail search or properties they've found on the Internet or from a For Sale sign.
I've been working with some buyers that have taken their time viewing all of the inventory in their price range and areas of choice. One couple finally narrowed their choice down to two listings. When I went to set an appointment on the first home I saw it was sold. Their second choice was Orland Park IL real estate and my appointment was confirmed. However, I got a call from the listing agent telling me that there was an accepted contract and they were waiting for earnest money.
These first-time buyers were confident that they had time. They probably read about today's slow market or heard it on the news. They were in no rush and were methodical about their home search. Now when they finally narrowed it down to two, these two homes are gone. Back to square one or figure out a 3rd & 4th choice to compare.
The interesting thing is that the two homes they chose were shown to them in the beginning of their search. They had already viewed them a second time along with their family. Yet they continued looking at other properties.
Sometimes this kind of thing has to happen to make buyers realize they don't have all the time in the world to make a decision. It's difficult trying to explain this to first-time buyers who don't want to be rushed. But I know these buyers have learned their lesson and I'm only hoping they will find something else soon and will act quickly the next time.
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Specializing in the Southwest Suburbs including Tinley Park IL real estate. Search for homes for sale in Orland Park Illinois.
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Social Bookmarking2 Responses to “Buyers Taking Their Time Are Losing the Homes They Want”
Dennis, I added you too. Well, my buyers definitely are speeding things up. Showed them a home yesterday and we're going back tomorrow with Dad (he's seen other homes and he's cool) and they're ready to write on the spot. No more waiting around!
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Judy Orr is in her 24th year as a REALTOR® in the southwest & near west Chicago suburbs. Judy mainly works in southwest Chicago, southwest & near west Cook County and northeast Will County. Read More
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Hey Judy we have been seeing this kind of thing for a couple months in Lane County, Oregon. With low interest rates and sellers finally ready to accept offers lower than they were expecting before it truly is a great time to buy. I sold a home last week the day it went on the market at full price. I had the buyer that had been looking and had writen a few other offers so when this home hit the market my guy jumped on it. Reminded me of a few years ago. Hey Judy, I added you to my friends too.