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I have been hearing more and more objections from my buyers about purchasing a home TODAY because they keep hearing that the market is going to decline further, so they don't want to be in a negative equity situation. In addition, they have heard that there is going to be a "mad rush" of foreclosure properties soon, so maybe they should wait...
I wanted to start this discussion in hopes that we can all help each other handle this objection so we can all be more successful!
I have been handling it this way; Well, Mr. Buyer that may happen, however, even if you waited to purchase a home that was 5% lower in price, you may end up paying more if the interest rates increase. They are bound to increase in the near future, so do you want to take that chance?
Just some thoughts and I would love to hear your opinions...