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Home Tom Willi

Tom Willi

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More to Buying a Home Than Just a Good Price

01-29-11
Tom Willi

Buyers in today's market seem to be missing the boat. The cheapest price seems to be the buyer's only objective. Nothing else seems to matter.

Whatever happened to location, location, location? This old adage was used to justify differences in value for eons. It is not necessarily true today. At least not in this present buyer's market.

How a home fits the family was always a consideration. So was the quality of the school system and the proximity to shopping and recreational amenities. All secondary now. Buyers are blinded by pricing alone. How "cheaply" they can acquire the property is driving the market - slowly but surely downward.

Price should be a major consideration. But who told the buyers that every property was available at a 50% discount, or more? Possibly offending a seller with a low-ball offer doesn't seem to cross their minds.

I spend considerable time educating buyers about the realities of today's market. It is part of my job and I enjoy it. But reason escapes me why a buyer would think a seller (REO, short-sale, etc)will accept an offer at thirty or forty percent of market value? A little over 40% of my market consists of short-sales and bank owned so we deal with this often.

Buyers need to realize there is value to a home other than the price. Quality of life issues should be considered by every buyer. They are what makes a house a home.

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