'' IT'S NOT A BUYER'S MARKET ''
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August 15 , 2010
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What is a 'BUYER'S MARKET' ?
Well most would define it as a preponderance of available supply and an accompanying dearth of demand . Now , let's take a look at both aspects of that equation .
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WANT has nothing to do with ABILITY to PAY !
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No CONSUMER CONFIDENCE and DESIRE does not translate to actionable demand [ never did and never will ] .
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ASKING PRICES have already been reduced because of market conditions , current appraisals , foreclosures , vacant properties , bankruptcy , BPO , JOB-LOSSES , refinancing problems , higher qualifying by banks , tougher underwriting , etc . .
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Resulting in placing SELLERS now ''in-the-drivers-seat'' again !
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.......more to follow ,
George
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