Buyers hold out til last minute to make offers
Apr 2011 21

According to a story on WBUR’s website, there is a limited amount of activity out there (in the suburbs, at least) with buyers holding off when making offers on properties, even ones perceived to be priced appropriately.

There is a lot of psychology at work, here. Some sellers may believe they are pricing their homes accurately but are still far above what the market accepts. And, buyers may think sellers should take any offer, regardless of amount, thinking it’s their “right” to get a good deal and to hell with the seller breaking even.

Even now, three years after the economic crisis kicked off with the bankruptcy of Lehman Brothers, it seems as though buyers and sellers are in a standoff.

Here in Boston, things are a bit different. Activity is off 25% or so, but prices continue to remain high. There is a fairly good economy so owners can hold on without being forced to sell, there is limited inventory, and there are still buyers who want to buy, now, and have their finances in order to do so. This is why you’ve seen the market here remain flat, with little price depreciation. (At least in some price ranges.)

More: Mass. Home Sellers Sweat Slow Spring Market – WBUR

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