It's Supposed to Be A Buyers Market...

Okay so I know I may sound like a broken record but now really is a great time to buy Real Estate in Upstate New York. We are looking at loads of inventory, great interest rates and the first time home buyer tax incentive. It is truly a buyer's market here in Cayuga county... but it may not be for long.
Over the past week I have been taking one of my clients out to view property. He is looking for a ranch preferably outside the city of Auburn, with a garage up and priced up to about 180,000.00. Now you would think that I should easily be able to find a suitable property for him.
The first house my client wanted to see has been on the market for over a year when I called the selling agent to set up an appointment to view the property she informed me that it just went on contingency. OK so we know there are other properties out there. The second house which he was very interested in had just had two price reductions bringing it down to the price the seller should of had it listed at 6 months ago. When I called to get showing instructions the agent informed me they just accepted an offer on the property, I took my client to see it anyways because the offer was not finalized, that same day we also viewed a property in the city of Auburn which he liked... Low and behold the agent called me that evening to inform me that an offer had just been accepted and the house was contingent. This means that most likely an offer was being written on that house as I was showing the property! This is starting to become reminiscent of Real Estate past. Now yesterday my client asked to see another property I had sent him. An office listing that has been on the market for about 4 months.... I contacted the agent to see if we could get in right away and she had just written an offer that was accepted! What is going on here?
4 properties that my client was interested in have just went on contract within a one week period. It is supposed to be a buyer's market but I think everyone is catching the drift on how favorable the conditions are to buy right now.
After all of this I was not surprised to read an article today that the National Association of Realtors has reported that pending home sales are up 2.1% nationally and up 10.6% in the Northeast. This is a good indicator of what future sales will look like. http://money.cnn.com/2009/04/01/real_estate/February_pending_home_sales/index.htm?section=money_latest
So if you are a serious buyer, with good credit and steady income get out there and start looking. You may just find the home of your dreams!
If you need immediate answers to any real estate questions please feel free to call me anytime at 315-515-8348.