Market Conditions in 19966>Question Details

Elise, Home Buyer in Mount Laurel, NJ

Why is there a big inventory of homes in the Millsboro, De. area even though morgage rates are low.

Asked by Elise, Mount Laurel, NJ Thu Jun 21, 2012

I'm sure it's everywhere. Is there something that is known amongst r.e. agents there

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3
EdithJasser YourRealtor4Life’s answer
It seems a logic thought, that if the interest rates are low, buyers should just come and pick and select and buy.... But although the interest rates are low, buyers are either on the fence for a variety of reasons,
is my job safe, what if I suddenly do not have my job can I then afford the mortgage
will prices go further down, should I wait to buy etc. etc.
and poor buyers sooooo much to select from

and then on the other hand, many home owners have their own reasons for wanting to sell.
In general this is not a good time to sell in most areas of the US, because home values are
generally down, so you do not sell unless

YOU have to, because your job location changed
or you cannot afford the home anymore, because the new job pays less
and then there are those who can afford to lose money on the sale of a smaller property
in order to gain on the purchase of the next larger property for much less....

So in most areas of the US we are in a buyers market, more homes on the market then ready and willing and approved buyers are ready and willing to buy!

Take care, be well
Feel free to contact me or get to me via my website below.

EdithDoesItRight@yahoo.com or EdithSellsHomes@gmail.com

@Properties Northshore - offices in Chicago, Evanston, Winnetka, Highland Park and Lake Forest
30 Green Bay Road Winnetka Il. 60093
or sign up for home searches on my website http://tinyurl.com/MeetEdithHere
Have a most wonderful Day :)
0 votes Thank Flag Link Thu Jun 21, 2012
ummmm Edith... if you think prices are low now, you're going to be stunned over the coming years.


Get what you can get for your house today because it's going to be less tomorrow for many many years to come.
0 votes Thank Flag Link Mon Aug 6, 2012
In 3 words: lack of urgency. Our market is primarily a vacation and retirement market. Vacationers who own second homes will list their homes at a price they hope to get. If they don't get their price this year, they take it off the market in December, and then come back on the market in March and try again. Or they simply rent it for a year or so and then come back on the market. Retirees who decide to sell and move elsewhere also have plenty of time to wait for the buyer willing to pay their hopeful price. We do not have many active duty military or corporate transfers, two groups who drive up the level of urgency for homes in a market area. I am a full-time Realtor who lives and works in the Millsboro, Delaware area. If you are interested in possibly moving to my area, you may reach me through my company's website: http://www.jacklingo.com or by email: myra@jacklingo.com.
0 votes Thank Flag Link Thu Jul 5, 2012
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