Redfin, a national real estate firm, recently released its’ annual Real Time Buyer Survey. In it, they posed the question to potential homebuyers in the largest markets across the country, “What is the biggest obstacle keeping you from buying a home?” From top to bottom, here were the top 9 responses:
- 33% said Rising Prices- this makes sense. I mean, what buyer wants to pay more?! Funny though, why do the newscasters always cheer on rising prices? Btw, here in central Indiana we haven’t gotten hammered with runaway prices, so this is a non-factor locally.
- 24% said Quality of Inventory- Idk, it seems to me that buyers here have a wide selection, and can find houses in great, good, fair and poor condition… whatever they’re looking for.
- 11% said Low Inventory- again, we differ from the national story with about a 5 month supply (which most experts say is a healthy market).
- 8% said Too competitive- we haven’t seen anything like California where reports of sellers receiving a 5-10 offers over a weekend. (However, I will say that when you find what you’re lookin’ for… well, then it’s time to pull the trigger!)
- 7% said Not Enough Savings- If you need info on how much cash you actually need, ideas on how to save money each month, or someone to negotiate on your behalf so you need less money to get the job done— just ask!
- 7% said No Concerns- I guess for these folks, life is good! No problem, mon’
- 4% said They Need to Sell First- simple, call me. (End of problem.)
- 2% Can’t Get a Loan- maybe not so simple, but call me anyway. I have options that just may work for you.
- 1% said Job Security- sorry, but you’re on your own with this one.