I was in another room early this a.m. and I thought I heard someone on the NBC Today show telling home buyers that if someone is offering a home for sale at $200,000 they should offer $175,000.
I later spoke to a banker friend and she told me the lady on the Today Show was Suze Orman and she was actually telling home buyers to offer $125,000 on a $200,000 home! THANKS SUZE!!!!
Buyers are nervous enough with the market the way it is and then a highly respected person like Suze comes along and tells them to low ball properties by $75,000!
I recently wrote this blog on my personal website Buyers Looking For Home Prices To Drop Further
In that blog I talked about how fast the market changed early in 2005 and sellers could sell for more than top dollar overnight. The opposite took place in 2006 in many parts of the country that saw prices tumble literally overnight.
I strongly believe many experts that say the states with the stronger economies will see their housing markets recover faster that some other states. Just like the market changed overnight in early 2005 and then changed again overnight in 2006, this market will recover as well and we are already seeing signs of a recovery here in Idaho, read the USA Today Article no end in sight for Idaho's growth
Those buyers that are waiting for prices to fall so they can get the "best deal" will likely miss out on a wonderful opportunity to buy a home at a great price with great interest rates. I will guarantee you that these "Bargain Shoppers" are going to get a rude awakening when prices start to rise "Overnight" and they miss out on a wonderful opportunity to buy now.
That is my humble opinion Suze Orman and I hope the buyers that take your advice and miss out on a great opportunity to buy don't hold it against you for the advice you gave this a.m.
Native Idahoan and Boise Idaho Real Estate specialist serving Boise, Meridian Eagle, Nampa, Caldwell and the surrounding Treasure valley area of southwest Idaho. Specializing in residential, investment, land and commercial real estate. Search thousands of MLS listings at Boise Homes for sale and learn all about Idaho by visiting Search Idaho Homes