Arizona Realty by Kyle

Posted By Kyle on July 7, 2009

I’ve been sitting a lot of open houses lately and running into many people that are first time buyers. Our conversations typically go something like this:

ME: “So how long have you been looking?”
THEM: “Oh, we’re just starting, we know what we can get whatever we want when we’re ready.”
ME: “Yeah, but that’s kinda been changing. We’re actually beginning to see multiple offers on some of the homes that are for sale, especially REO properties. In fact, banks are actually starting bidding wars between buyers by listing homes way below what they know it will go for”
THEM: “Oh really? Huh, that’s strange, we haven’t heard anything in the media about the market heating up that much.” (Now they leave the house, assuming that I was the pressuring salesman just trying to scare them into jumping at the home I’m sitting in).

And that’s kinda the way that it goes. I really can’t blame the people for not knowing, why would they? Its not like people are looking on real estate blogs as much as I do or wondering “How’s the real estate market been lately?” And the media sure wouldn’t want to put out anything that may change the public’s perception of the market.

Here’s the deal: people that are SERIOUSLY looking for a home know the truth. They know that they have been getting outbid on every house they’ve looked at, they know that homes are getting multiple offers on them within a matter of days, sometimes hours, they know that they have to be ready to pounce the second they find something they like.

I just want to tell any and all of the first time buyer’s that read this blog that they should seriously consider how ready they are to buy a house. Because its just the honest truth, no marketing scheming or salesman training in this statement: homes in the sub 200k price range are going FAST. I hate the look of disappointment on people’s faces when I have to tell them that their offer is one of several going to the bank, and worse when we have to wait a week to find that we got rejected. Please, understand that the market has drastically changed from several months ago, and that’s not a pitch, its just the truth.

Categories: 1st Time Buyers
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