The Buyers’ Market of All Buyers’ Markets

Unreasonable homebuyers and unreasonable homeowners have always been around. You know the ones I’m talking about.

Homeowners who think they’re sitting on goldmines and insist they’re ‘not about to give it away’, even if it takes, quite literally, years.

And let us not forget those homebuyers who want to throw in a low-ball offer every time, just to see if it’ll slide past, even though it doesn’t time after time.

In this real estate market crisis—to the glee of many and the regret of many others—buyers have everything on their side. They know it. They feel it. And they’re salivating over the bloody entrails left behind by all those ill-fated homeowners.

To be fair, most homebuyers hold a regard for the buying process, their financial self-interests, their loan officers, their real estate agents, the homeowners on the other side of the table, and above all, this advantageous opportunity that has afforded them the ability to purchase a house at prices unheard of only 2 years ago.

Then there are the other homebuyers, the greedy monster-types with eyes all a-glow. They see the real estate market as a means of getting something for themselves, and they don’t care who gets in the way.

We’ve seen these kinds of homebuyers ...

• Buyers who want it all, want it now, want it for nothing down, and want homeowners to give it away.
• Buyers who don’t realize that just because they want a 3,000 sq ft house doesn’t mean they need a 3,000 sq ft house or can afford a 3,000 sq ft house.
• Buyers who don’t understand the meaning of delayed gratification.
• Buyers who don’t have any respect for the homeowners who put money, sweat equity, and pride into their homes.
• Buyers who haven’t proven to themselves they can actually afford the extra expenses of a house on top of their current financial obligations.
• Buyers who haven’t saved any money for the down payment.
• Buyers who don’t understand that banks don’t give money away like an ATM machine ... anymore.
• Buyers who think homeowners ought to be grateful to receive a low-ball offer.

And what about our poor benighted sellers?

Frankly, they don’t have much going for them right now. Except to catch the falling knife of market value. And to wait it out until who knows when.

One day, though, the market will turn around. One day those same greedy homebuyers of today will be the homeowners of tomorrow.

So buyer, beware. Look out for these covetous signs in yourself, then try projecting yourself into the future by just a couple of years, when you’ll want to sell. Then, you’ll wish for a buyer who will deal honestly and fairly, understand everything they ought to understand about the process, arm themselves with knowledge, a good real estate agent, and above all, respect for home sellers and their needs.