Home Buying in Woodbury>Question Details

Brian Webb, Real Estate Pro in Hudson, WI

How many potential buyers out there are just waiting for the daily news feed to stop talking to negatively before they make the decision to purchase?

Asked by Brian Webb, Hudson, WI Fri Jun 3, 2011

Brian Webb - Realtor
http://www.HomesByWebb.com

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The past several years the Home Affordability Index has never been better in our country but I know of people who want to make a move, but cannot get past the concept home values have not yet increased to pre-2007 values, so they do not sell and buy. Instead they sit and wait while the Home Affordability Index ticks upward.
0 votes Thank Flag Link Sun Dec 22, 2013
Sad to say, but news feeds have a lot of influence on buyers and sellers alike.

It is up to us professionals to do our best to put reliable current info out for the public.


Kawain Payne, Realtor
0 votes Thank Flag Link Mon Apr 8, 2013
As some one who reads a ton, goes to seminars and talks to many others in all aspects of our industry I have come to the conclusion that nobody knows. The crystal ball is broken. The one thing we do know is that rates are crazy low! I began my career in 1983 with rates in the teens, if you would have told me then that rates would be where they are today I wouldn't have believed it. If you are planning on owning your next home for a long period of time, it is more important to get the best home and lock in the best rates. Prices will no doubt be changing for the entire period of your ownership.
0 votes Thank Flag Link Wed Oct 26, 2011
Well as a matter of disclosure, I have a listing in Richfield MN. I've come to the conclusion that once we've hit bottom (and lord knows I hope we're there) you will never (ok, in my lifetime) be able to buy a home in some of these first ring suburbs like Richfield for the prices we're seeing today.

If you work in the city it no longer makes economic sense to live way out in the country as gas prices are never going to reach rate that we saw in past years. Those days are gone.
0 votes Thank Flag Link Fri Jun 3, 2011
Nice timing - I just got this e-mail today from a potential client I've been staying in contact with - "I'm still not ready to do anything just yet. I keep hearing that things are getting worse, not better with valuations."

While the negative press laments the market they fail to point out the historic level of price reduction already in place and the incredibly low interest rates. It's like trying to pick the low in a stock market which no one can do with any consistency.

Bill Wallace
RE/MAX Results - Apple Valley
0 votes Thank Flag Link Fri Jun 3, 2011
For their own good i hope soon. Housing affordability is at an all time high. Interest rates are lowest level historically, values have come down to where they were a decade ago and the economy seems to be starting to show signs of improvement. Seems like an amazing time to take advantage of it to me!
0 votes Thank Flag Link Fri Jun 3, 2011
probably too many. the sad thing is, by the time the media catches on that prices are on the rise, like in SW Florida, they will miss out on the best deals.
0 votes Thank Flag Link Fri Jun 3, 2011
I am sure there are a lot. In the DC market, we definitely see a correlation between the national news and the buyers. The news on our market is actually positive now, but it is drowned out by the national stuff.
0 votes Thank Flag Link Fri Jun 3, 2011
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