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(according to my buyers) Because the other houses that they liked would have stretched their budget, and didn't leave them with any extra cash to use to "personalize" the house a bit after they bought it, as well as to budget for maintenance, the insane cost of heating in this area, etc. And because it had a "good vibe".
(my interpretations) Because they were interested in buying a house that they could afford, not MORE house than they could afford, and they had a reasonable approach to determining what they could afford. And they were willing to look past the surface and buy a home with good fundamentals, in a good location, realizing that most else could be fixed/changed.
And, because without real estate commissions they could get more house within their budget.
FWIW. Your mileage may vary.
Last edited by Sweetbeet; 05-11-2008 at 10:19 AM..
Reason: remove inadvertent smilies
Exactly. sounds like you're buyers are reasonable people. I wish some would come my way! I also wish people would look at houses just slightly over their budget, and not waste everyone's time.
(according to my buyers) Because the other houses that they liked would have stretched their budget, and didn't leave them with any extra cash to use to "personalize" the house a bit after they bought it, as well as to budget for maintenance, the insane cost of heating in this area, etc. And because it had a "good vibe".
(my interpretations) Because they were interested in buying a house that they could afford, not MORE house than they could afford, and they had a reasonable approach to determining what they could afford. And they were willing to look past the surface and buy a home with good fundamentals, in a good location, realizing that most else could be fixed/changed.
And, because without real estate commissions they could get more house within their budget.
FWIW. Your mileage may vary.
If only this was the way people thought a few years ago.
Nice post here.
If only this was the way people thought a few years ago.
It makes sense, actually. The people who waited and/or didn't pay too much during the boom probably always felt this way. They are actually going to be the most cost conscious buyers who are more likely to buy the house they need rather than more house than they can afford.
They're also more likely to have better credit, qualify for loans, etc. because they've probably always lived within their means.
The bottom line in this market is price. It's a good thing I'm moving because my neighbors will probably lynch me when I slash the price and this comp hits the market ...
But I never thought this house was worth that much anyway ... which is why I didn't pay too much for it and, why I never borrowed on it even when values doubled.
Congrats on the sale! It's funny your wrote this. We had a showing last Wednesday and they loved our house and lot (which is way above average size for subdivisions - almost 1 acre). But they said they weren't interested. I asked our agent to find out why. It wasn't doing us any good to have all this feedback saying priced right, great upkeep, blah, blah, blah if we didn't know why they weren't considering ours. Anyway, she said they thought they could get a bigger house on the same size lot for less money. Not gonna happen unless they want to go way out in the country away from everything. She called back and said they will probably be back for a 2nd look b/c they weren't having the luck they thought they would and our house was one of the favorites. Haven't heard anything yet but it is a buyer's market and it sucks for us.
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