Stockpiling For the Turnaround!

Like a kid with a prized bag of shiny marbles, I have collected a pretty big sack of golden buyers in my pocket. They come to open houses, email me from realtor.com, call off ads for short sale listings. Some are even referrals.

BUT.....

They are digging holes in my jeans to get out and go wait in the street (by the curb of course) for several months!

Why the curb you ask?

They are Waiting to See Blood on the Streets!!!

I am going to spare you a picture of the blood.

So, what are we advising them? Do we tell them that it is a great time to buy? But would WE buy now?

Or do we advise them to wait for things to get worse?

The truth is, no one really knows if this is the bottom or if it will get worse. If they buy now, are they buying on a falling dagger?

I try not to listen to the mainstream media and I've learned to trust my gut. I have to admit, that I believe it's going to get worse, and the greatest buying opportunity in a very long time is just around the corner. But it's not here yet.

That said, I cannot lie to my buyers and tell them RIGHT NOW is the best time to buy, unless they get an amazing deal on a short sale or a new inventory home that has the price slashed and is loaded with upgrades and unbelievable 30 year financing. Then I say "Go For It!"

I reckon it depends on your market. Increasing foreclosures are sure to bring property values down further in most markets. We don't have many foreclosures in my neck of the woods, but prices do have a little ways to go downwards in my opinion.

In the meantime, I keep stockpiling my buyers, loading them into my bulging sack. I keep them up to date on the market, show them the best deals, and keep in close touch because one day perhaps next year, it will indeed be the best time to buy! And it will be BANG BANG BANG! One after the other.

So what do you tell YOUR buyers?