More and more buyers are seeing this is the time to buy. Take for instance the one of my first time home buyers. After looking for a while at existing homes we looked at new construction. Ultimately it was the right fit for this buyer. Being around new construction and buying my house new I was sure that only a full priced offer would do. But after seeing some other deals work I thought it would be worth a try and we were right. I can't disclose what we offered and what we got, but the old school thought of seller sticking to their price is no longer around.
Another buyer of mine say a similar reduction in the purchase they made. It goes back to the idea of supply and demand. If they are out of whack then reductions happen!
I have talked with some clients lately and they have told me that they want to wait and see. Unfortunately that it not the best idea right now. We all now that home will always be necessary, people will move, grow, downsize, retire, invest. Know is a good time to do just that!
