Buyers are asking if they should buy now or wait, whether we are at a bottom in prices or have further to drop.   It’s a logical question, one that investors in the stock market are asking with great fervency lately.

In an earlier article entitled Distinguish the Market and One House I wrote:

When a Sequim or Port Angeles homeowner wants to sell, they have one home to sell.   When a buyer from California or Arizona is shopping for their next home in Sequim or Port Angeles, they have one and only one home that will become theirs.   This is much more than just a play on words, and the implications for both parties is significant.

Each home is unique, unless it is a crackerbox in a Vegas subdivision, and we don’t have those here.   Each buyer is unique.   The seller is unique.   The match of a buyer, seller, and a home is unique.   Do buyers care how many houses are on the market, or what the state of the economy is, or how many DOM (days on market) a house has been listed?   No, except indirectly if it helps them get a better deal.   But even when we talk about a better deal, for each buyer, there is one house they expect to fall in love with and that is the only house they will buy.

For each house that is for sale in any market, including our current market, a seller only needs one buyer who is qualified and finds the home to be the ideal home for them.   For each buyer, they are looking for that home that has the precise features they most desire, in an area they find appealing or perfect, and at a price with terms they can afford.   All of this makes the general market conditions irrelevant.

Will prices of single family homes drop further?   The average price of homes will see a further   small decline, but that is not really the issue for an individual home owner.   The issue for an individual buyer will be, “Will the ideal home I want to buy still be available if I wait, and will the price of that home drop further?”

The best homes in the best areas will not necessarily still be available, because those are the homes that will sell in this market.   And the prices of these homes are stable.   The listing prices of these homes has already been reduced and reduced.   For the qualified buyer with good credit and the funds for a down payment and closing costs, this is most certainly a good time to buy the right home.

Possibly Related Posts:

• Sequim Washington is Growing
• Buyer Tips in a Buyer’s Market Part 3
• Super Buyer’s Market with Real Estate Market Collapse
• Lowest Mortgage Interest Rates in 50 Years
• Do Sequim Realtors Say It’s Time to Buy?

Buying a home in Sequim or Port Angeles?   In 30 years in real estate I have not seen a buyer’s market like this.   I recently wrote a comment on another forum saying it is definitely a good time for qualified buyers to buy a home.   Another forum contributor writing under the name of anonymous, lashed back, “Realtors always say buy buy buy.   You can’t trust what a Realtor says.”

I am a Realtor, but that doesn’t mean it isn’t a buyer’s market.   Let’s face it, it is most certainly a buyer’s market like none of us have seen in decades.   Obviously, there is a serious credit crunch out there, and we are in an economic rescession.   The real estate market is tanking on a national level, and some areas are worse than others.

Look.   Cash is king.   It always is, but especially in a market like this.   If you have cash, and/or a really great credit rating, and you have been planning to buy real estate in Sequim or Port Angeles, you’re in the driver’s seat.   Find your dream home and name your terms.

Need an exclusive buyer’s agent to help you negotiate the best price and terms?   Email or call (360.775.5424).     Thirty years in real estate, 20 in real estate law, Internet website and blog developer, business development strategies that help connect with you, and negotiator of many hundreds of transactions.   I would consider it a privilege to work with you.

Possibly Related Posts:

• Sequim Washington is Growing
• Buyer Tips in a Buyer’s Market Part 3
• Super Buyer’s Market with Real Estate Market Collapse
• Lowest Mortgage Interest Rates in 50 Years
• Do Sequim Realtors Say It’s Time to Buy?