NEW BUYERS FOR 2012

Well we have weathered the housing market doom and gloom period and as a Realtor actively selling and representing buyers as well I see an upswing in the amount of activity in our market. We have weathered the storm better than most of the nation, lucky as we are to be in the Houston and Surrounding areas we still had a lull in sales, and saw a significant decrease in home prices.
As a listing agent I handle both average listings from $100,000-$300,000 to the high end listings of $400,000 to the multi-millions. The end result that most sellers are after is to sell for the highest they can without taking a loss and move on. We try to do that as agents to
provide research and evidence of the market we are selling in. That being said although prices are on the rise about 2% increase in our area (14). Overall, over priced listings stay on the market indefinitely and homes priced accurately sell much quicker. Some I recently listed we under contract within the first 30 days which is our goal as Realtors!
As a Buyers Agent, you have the responsibility to guide your buyers through the maze that is the current mortgage market and get them prequalified! This is a huge undertaking since rules have changed and continue to do so for your buyers. As many traditional buyers I have assisted, I also find more and more cash buyers. Although the cost to borrow far out weighs paying cash for real estate in my opinion (at least for right now), the overall goal and situation for each buyer is unique. Although I am seeing a trend that does disturb me....buyers making RIDICULOUS offers...$100,000 under list...seriously??? As an agent I would not be able to present an offer that low with a straight face. Once we provide our clients with data it should provide them with the current value of a property and proceeding with offers from that data is warranted. But does a BUYERS MARKET mean bring on the RIDICULOUS offers? NO it does not. We have a fiduciary obligation to our clients, and also we are showing the other agent on the other side of the transaction that we either know what we are doing or in fact do not have a CLUE!
The housing market overall is improving and I am so very grateful, as are other Realtors I speak to. But the everyday issues we face as agents continue, we are faced with the choice to list properties well over market value or walk away, we are also faced with buyers that insist on offering well below market value for a home in hopes to get a steal or walk away. Its a tough time for agents, but luckily we are also blessed with clients that know you are assisting them correctly and responsibly and guiding them to the best side of our business...helping them "ride the wave" to owning a new home, or selling their current one. Such a rewarding job we have, it is an honor and a pleasure to work for my clients. I hope you all have an excellent 2012 and lets make a pack to educate our buyer and sellers so we can continue to see an increase in sales and home prices in our market for the foreseeable future!