Paralyzed Home Buyers

There’s a disadvantage to being single in the big city. It is easy to go through life thinking there’s always a better deal out there. Yes, your girlfriend is nice and sweet, but maybe you could date a knockout. Someone crazier in the sack but more financially responsible.

In today’s depressed housing climate, buyers are flexing their muscles. They feel powerful. They feel like there’s always a better deal out there.

They make real estate agents take them to dozens of homes. They submit offers well below the asking price.

The LA Times says:

How can buyers find their way through a mountain of distressed properties and regular old houses for sale? Here are some suggestions:

•Be committed. If you want to be successful, says Roberta Baldwin, an agent with Keller Williams New Jersey Metro Group in Essex County, N.J., you need that same sense of urgency that buyers exhibited during the real-estate run-up.

Today’s buyers “just aren’t committed to the search in the same dogged ways buyers were in the high market, when they thought if they didn’t catch the wave, they’d never see another one,” Baldwin says. Her advice: Stop fitting in the house hunt only when you have some extra time. Rather, make it a priority.

•Be ready. With lenders making it difficult to obtain a mortgage, it’s more important than ever to line up financing in advance. “It’s not a buyer’s market; it’s an able buyer’s market,” points out Beverly Meaux of Towne Realty Group in Short Hills, N.J.

Besides, knowing in advance how large a loan you qualify for will prevent you from looking at houses you can’t afford, even if you expect to be a hard negotiator.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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