William F. M…,  in Great Neck, NY

How do customers looking for real estate feel the housing crises impacts the process of finding a home?

Asked by William F. Mathewson, Great Neck, NY Thu Oct 9, 2008

What effect, if any, do customers feel the bailout will have on the housing market and how will that impact their decision making process in choosing a home?

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Kiffany, Home Buyer, Lincoln, NE
Fri Oct 10, 2008
We are waiting only because we haven't hit the buttom of this economy situation and housing prices are going to continue to fall. The election does not matter in our decision. No candidate can offer an immediate fix for the situation. I don't want to sound all doom and gloom here but houses were overpriced, banks were qualifying people who shouldn't haven't gotten the loans they did and now we are paying for everyone's greed. Sorry to say but current homeowners if needing to sell in the near future are going to pay for it.

We don't want to buy a house right now, when we can wait 6 months or so and get it much cheaper. Plus, we entering into winter, the slow time for house sales annually. We are looking to pay 20% less than asking price. Truthfully, I feel that this is what the actual true value of homes should be in our area. The prices just kept getting inflated and some of it was driven by the county assessors who kept increasing values so much to get more property tax money in Nebraska. Homeowners certainly didn't want to sell their home under the assessed value so they kept selling higher and higher.
0 votes
Maria Morton, Agent, Kansas City, MO
Thu Oct 9, 2008
Well, William, I have 3 buyers who decided to wait until after the election. Then there are 2 who decided, on the same day for the same reason, that they should hurry and buy now instead of waiting. And then the usual array of potential buyers keeping track of homes on my website until they have saved up enough money for a downpayment, gotten the promotion at work, finished school, done the wedding, retired, or whatever life event has to occur before they will actually buy another home.
Web Reference:  http://www.mariatmorton.com
0 votes
NonRealtor, , 23456
Thu Oct 9, 2008
Hopefully, soon we can buy directly from the govt. This will save time and 6% commission. Good Luck
0 votes
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