Comments on: Phoenix MLS Inventory Tops 53,000: Or, What the heck is a “Buyer’s Market”? http://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/ Phoenix real estate | Search Phoenix Homes for sale | Real Estate Blog Sun, 21 Mar 2010 16:39:33 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: Gilbert Real Estate: Market Conditions Test Home-seller Mettle at The Phoenix Real Estate Guyhttp://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/#comment-19068 Gilbert Real Estate: Market Conditions Test Home-seller Mettle at The Phoenix Real Estate Guy Fri, 24 Aug 2007 19:33:56 +0000 http://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/348#comment-19068 [...] den Berg's article that will tell their clients the same thing. The same thing goes for buyers. As I've said before, even in the current buyer's market now may be a great time for some to buy, but it may not be [...] [...] den Berg's article that will tell their clients the same thing. The same thing goes for buyers. As I've said before, even in the current buyer's market now may be a great time for some to buy, but it may not be [...]

]]> By: Sadie’s Take on Delaware Ohio » Blog Archive » We Made Second-Ring of the Carnivalhttp://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/#comment-14416 Sadie’s Take on Delaware Ohio » Blog Archive » We Made Second-Ring of the Carnival Wed, 23 May 2007 20:25:29 +0000 http://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/348#comment-14416 [...] did a great job this week and gave the top nod to Jay Thompson from Phoenix with “What the heck is a buyer’s market” and runner-up went to Sadie’s entry “Nobody likes foreclosures in Delaware [...] [...] did a great job this week and gave the top nod to Jay Thompson from Phoenix with “What the heck is a buyer’s market” and runner-up went to Sadie’s entry “Nobody likes foreclosures in Delaware [...]

]]> By: Carnival of Real Estate: The Consumer Edition at The Phoenix Real Estate Guyhttp://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/#comment-14360 Carnival of Real Estate: The Consumer Edition at The Phoenix Real Estate Guy Tue, 22 May 2007 21:45:15 +0000 http://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/348#comment-14360 [...] post on What the Heck is a Buyer's Market was picked as the winner!  Thanks Mike, it's our first first-place spot in a Carnival. We [...] [...] post on What the Heck is a Buyer's Market was picked as the winner!  Thanks Mike, it's our first first-place spot in a Carnival. We [...]

]]> By: Stacey Macioszekhttp://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/#comment-14198 Stacey Macioszek Sun, 20 May 2007 01:03:14 +0000 http://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/348#comment-14198 I like this type of post. Only because I receive the exact same sort of questions on a weekly basis. I used to own a restaurant a few years back and, just as frequntly, one of my employees would ask, "do you think we'll be busy today?" My reply was usually, "If I knew that I would would probably be sitting on my yacht sipping Champagne right now." The same goes for any market, whether homes or pork belly commodities. Nobody can predict the future.The thing about real estate, for most people, is that you can enjoy your investment until the time comes to reap the rewards of appreciation. With some smart loan handling it can lead to a tidy sum.Yes, now is a good time to buy if a buyer has been contemplating the idea over the past few months. If finances are in line and the only decision to be made is whether now is a good time or not, buy now. Don't look back. I still hear more stories from people in my area who regret not buying a home than I do of people who did - with a ratio of about 100 to 1. I like this type of post. Only because I receive the exact same sort of questions on a weekly basis. I used to own a restaurant a few years back and, just as frequntly, one of my employees would ask, “do you think we’ll be busy today?” My reply was usually, “If I knew that I would would probably be sitting on my yacht sipping Champagne right now.” The same goes for any market, whether homes or pork belly commodities. Nobody can predict the future.

The thing about real estate, for most people, is that you can enjoy your investment until the time comes to reap the rewards of appreciation. With some smart loan handling it can lead to a tidy sum.

Yes, now is a good time to buy if a buyer has been contemplating the idea over the past few months. If finances are in line and the only decision to be made is whether now is a good time or not, buy now. Don’t look back. I still hear more stories from people in my area who regret not buying a home than I do of people who did – with a ratio of about 100 to 1.

]]> By: Jay - The Phoenix Real Estate Guyhttp://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/#comment-14180 Jay - The Phoenix Real Estate Guy Sat, 19 May 2007 16:58:53 +0000 http://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/348#comment-14180 Will - yes, that's the book definition of a buyers/sellers market. The point I was trying to make is that there are too many factors that go into a home buying/selling decision to paint it with a broad label of "buyers market". It simply isn't and can't be the best time for everyone to buy."I think you need to give consumers/homeowners a bit more credit for their basic knowledge of the market."Didn't mean to imply anything about consumers knowledge. Consumers are generally *very* savvy and knowledgeable about the market. But we get questions on almost a daily basis that we simply can't answer. "Will this house go up in value?", "Has the market bottomed out?", "Are rates going to go up?" Things like that. We can give our OPINION, but many folks want facts/promises and we just can't do that. No one can.I agree with your last paragraph, generally speaking. Now is a great time to buy for MANY people. But it is not a great time to buy for EVERY person. Will – yes, that’s the book definition of a buyers/sellers market. The point I was trying to make is that there are too many factors that go into a home buying/selling decision to paint it with a broad label of “buyers market”. It simply isn’t and can’t be the best time for everyone to buy.

“I think you need to give consumers/homeowners a bit more credit for their basic knowledge of the market.”

Didn’t mean to imply anything about consumers knowledge. Consumers are generally *very* savvy and knowledgeable about the market. But we get questions on almost a daily basis that we simply can’t answer. “Will this house go up in value?”, “Has the market bottomed out?”, “Are rates going to go up?” Things like that. We can give our OPINION, but many folks want facts/promises and we just can’t do that. No one can.

I agree with your last paragraph, generally speaking. Now is a great time to buy for MANY people. But it is not a great time to buy for EVERY person.

]]> By: Will Farnsworthhttp://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/#comment-14128 Will Farnsworth Sat, 19 May 2007 00:14:59 +0000 http://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/348#comment-14128 Maybe this is a bit of an oversimplification, but isn't the definition of a buyers/sellers market the difference between the raw historical (6mo, 1yr, 3yr, etc..) ratio of homes sold (& for what amount) versus total active listings on the market, when compared with current statistics? Makes sense to me.I think you need to give consumers/homeowners a bit more credit for their basic knowledge of the market. Everyone knows that the past 4-5 years have seen a tremendous rise in home values. But homeowners can also recognize when the market slows down, all they have to do is look in their own neighborhood: "well, Bill has had that for sale sign up for 3 months now but his neighbor Mike sold his home within 1 week not 2 years ago." It's probably a bad example, but you get the idea.It's a buyers market. First time home buyers especially ought to be looking for houses right now, because when compared to the last few years there are much better deals to be had. Will prices continue to drop? Maybe, maybe not. But it is logical to assume that much of gains from the last few years have been speculator driven, dried up, and thus are not likely to continue on this unprecedented tear. The bottom may get a little lower, but the market overall is 20,000 leagues from the crest of the wave. Maybe this is a bit of an oversimplification, but isn’t the definition of a buyers/sellers market the difference between the raw historical (6mo, 1yr, 3yr, etc..) ratio of homes sold (& for what amount) versus total active listings on the market, when compared with current statistics? Makes sense to me.

I think you need to give consumers/homeowners a bit more credit for their basic knowledge of the market. Everyone knows that the past 4-5 years have seen a tremendous rise in home values. But homeowners can also recognize when the market slows down, all they have to do is look in their own neighborhood: “well, Bill has had that for sale sign up for 3 months now but his neighbor Mike sold his home within 1 week not 2 years ago.” It’s probably a bad example, but you get the idea.

It’s a buyers market. First time home buyers especially ought to be looking for houses right now, because when compared to the last few years there are much better deals to be had. Will prices continue to drop? Maybe, maybe not. But it is logical to assume that much of gains from the last few years have been speculator driven, dried up, and thus are not likely to continue on this unprecedented tear. The bottom may get a little lower, but the market overall is 20,000 leagues from the crest of the wave.

]]> By: Jay - The Phoenix Real Estate Guyhttp://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/#comment-14118 Jay - The Phoenix Real Estate Guy Fri, 18 May 2007 22:15:48 +0000 http://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/348#comment-14118 Sometimes it's not easy Norm! Sometimes it’s not easy Norm!

]]> By: Norm Fisherhttp://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/#comment-14117 Norm Fisher Fri, 18 May 2007 21:57:05 +0000 http://www.phoenixrealestateguy.com/phoenix-mls-inventory-tops-53000-or-what-the-heck-is-a-buyers-market/348#comment-14117 Wow!! How do you ever convince a buyer that they should stop looking? Wow!! How do you ever convince a buyer that they should stop looking?

]]>