Is there an Unrealistic Sellers vs. Unrealistic Buyers Stand-off
You hear a lot about "unrealistic sellers" these days, but lately I have read some articles that really point to "unrealistic buyers", as well. Something is finally going to have to give. A realtor sent some marketing information out to the neighborhood today that pointed out that interest rates are on the rise and a lot of buyers are shying away from foreclosures because they fear the robo-signings will make titles "unclear" and they are shying away from short sales because of the length of time and hassle in dealing with the banks. In trying to sell our home (which is now being marketed at $100,000 less than it appraised in 2008, which was not the height of the market!), I am finding that buyers seem to want everything in perfect condition at foreclosure pricing. If we don't sell at this price, we already have several people interested in leasing it and rents are going up. We, and many other sellers, are not willing to wreck our credit with a short sale or a foreclosure, so if we have to sit on it and rent it, we will. (my husband took a job in another state) I think today's media loves the drama of the "real estate bubble crisis", but I am seeing a lot less of distressed housing in our area and I read that certain portions of the country are already recovering quite nicely. I just wish the media would do more coverage of buyers "managing their expectations", as well. Any thoughts?