Too much inventory? It is good for those people we call BUYERS !!

Too much inventory?  It is good for those people we call BUYERS !!
by Kaushik Sirkar, Chandler AZ REALTOR
Chandler Arizona Real Estate

Many parts of the country have way too many homes on the market.  Inventories are setting records (certainly the case in the Phoenix metropolitan area).  We are seeing the number of transactions decrease.  We are seeing homes sit on the market longer.  We are seeing sellers very frustrated by the inability to sell their homes!

Lets not forget - this set of conditions is actually good for one set of the population - BUYERS!!!!  In various markets, they have inventory to select from like they have never had before.  Prices have recessed in certain metropolitan areas - great for those who were not previously ready to buy and those who were waiting to buy.  Buyers have been able to negotiate the prices down from list prices - unheard of only a few short years ago!

See this article in today's Arizona Republic.  Various interesting items are discussed.  Attempting to time the market bottom for the best time to buy.  How rising foreclosures are good for prospective buyers...but one of the key takeaways for folks trying to time the bottom of the market - rising interest rates could easily offset the benefits of a dropping market!

Just a reminder - buyers have aren't in bad shape right now.  For the buyers out there, depending on market, you may never has selection like this before!  And for agents - I have often heard the term "list or die" from successful agents.  Definitely valid....but it may just be a good time to put a little more focus on buyers!!

Thanks for Reading :)

Kaushik Sirkar, Chandler AZ REALTOR
http://www.homesphx.com