Some Would Be Home Buyers Are Deciding NOT To Buy Given The CRAZY Housing Market


Some Would Be Home Buyers Are Deciding NOT To Buy Given The CRAZY Housing Market
By Scott Rogers • April 8, 2021
Many buyers are feeling a bit overwhelmed by the prospect of trying to buy in the current CRAZY housing market. They find themselves asking... How much am I willing to spend above and beyond the asking price of this home? Am I willing to forego a home inspection in order to hopefully secure a contract on this house? If I'm paying $290K for this house and the appraisal comes in at $280K, should I care? Should I still buy the house? If there are five or more offers on any house where I make an offer, how long will it take for me to be the winning buyer on a house? How do I get excited, again, when making an offer on the 5th, 6th, 7th house? Should I even still believe it is possible for it to work out? This is madness. This is so frustrating. Why is buying a house so difficult!? If you're trying to buy a house right now and you are having some (or all) of these thoughts -- you are not alone. There are many reasons to persevere and to keep on pursuing that goal of buying a house -- and most buyers do seem to be doing that -- though there are also some buyers who are throwing in the towel. Here's how that might look... I'll just rent for another year and hope that the market won't be as crazy another year from now. I'll buy a lot and build a home to avoid all of this competition for resale homes. I'll just stay where I am even though my current house isn't ideal for my family's needs. It is times like these that I am thankful for all of the counseling classes I took while I was completing my graduate degree from JMU. So, if you think you want to buy, but are are nervous wreck because of the hectic housing market -- feel free to reach out. I'm happy to meet with you to chat about the process and the market. We can call it a home buying meeting or a counseling session -- whichever makes you feel more comfortable. ;-) Receive Updates by Email Recent Articles: An Absence Of Competing Listings In A Broad Price Range Does Not Mean You Can (Or Should) Round Your List Price Up To The Top Of That Range The First Buyer To Make An Offer Will Likely Not Include An Escalation Clause, At Least Not At First Home Buyers Seem To Be Drawing The Line In A More Rational Place Now When Making Offers Buy A House For Yourself, Not The Next Owner Home Sellers Will Not Voluntarily Sell Their Homes For Lower Prices Because Of Higher Interest Rates Unless Competition Forces Them To Do So Homes Are Still Selling Quickly, So You Should Know (Or Think About) Where You Are Going Next Before You List Your Home For Sale Are You Ready To Sell Your Rental Property? Should We Let Buyers View Your Home Before It Hits The Market? Almost Half Of Homes For Sale Are New Homes Where Are Most New Homes Being Built Right Now?
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through May 28, 2023 (unless otherwise noted).
Comments (0) or Subscribe