{"id":17897,"date":"2021-02-26T14:27:45","date_gmt":"2021-02-26T21:27:45","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=17897"},"modified":"2021-02-28T07:30:04","modified_gmt":"2021-02-28T14:30:04","slug":"where-have-all-the-buyers-gone","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17897\/where-have-all-the-buyers-gone\/","title":{"rendered":"Where have all… the buyers gone?"},"content":{"rendered":"
If you work with home sellers, the pandemic has been good to you… VERY good to you. If you mostly work with buyers, the pandemic has been sheer hell for you. All of that may change in 2021.\u00a0 \u00a0If you spend 5 minutes reading what I am writing, you will be able to explain this dramatic shift in the market and better serve your clients. More importantly, you will be able to weed out the serious buyers and sellers from the lookers.\"\"<\/div>\n
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\nBackground<\/strong><\/div>\n
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Legions of buyers, powered by mortgages with rates which start with the digit 2, have been bidding up homes WELL over asking price. List a property on Wednesday, schedule showings for Friday, Saturday, and Sunday, present a dozen offers on Monday, send out a “highest and best” counter to a half-dozen that night, and open escrow on Tuesday with a high-down payment offer, waiving the appraisal contingency and closing in 21 days.<\/div>\n
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\nDramatic event which started the shift<\/strong><\/div>\n
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Mortgage rates skyrocketed over half of a percentage point these past two weeks. The reasons were apparent but, as always, what Wall Street knew in January, Main Street didn’t discover until Valentine’s Day.<\/div>\n
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It started right after Christmas. The country went through a tumultuous election and was finally accepting the idea of a new President. The holiday season came and everyone was basking in the glow that 2021 HAD to be better than 2020. Few people realized that just 10 days after Christmas, there would be a Special Election for the two Senate seats in the State of Georgia. Those Senate seats, should they flip parties, would throw the balance of power in the Senate to the SAME political party as the newly elected President and Speaker of the House of Representatives– one political party would have TOTAL control over the US Government.<\/div>\n
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<\/div>\n
.<\/div>\n
Forget which party you support and understand this–when either Republicans or Democrats have TOTAL control of the Federal Government, spending skyrockets. When we have “divided government”, the minority party has a lever to stop the profligate spending of the majority party. Wall Street LOVES divided government because they know that it will be Read more<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

If you work with home sellers, the pandemic has been good to you… VERY good to you. If you mostly work with buyers, the pandemic has been sheer hell for you. All of that may change in 2021.\u00a0 \u00a0If you spend 5 minutes reading what I am writing, you will be able to explain this […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-17897","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":16276,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16276\/there-is-no-real-estate-inventory-problem-in-oceanside-ca\/","url_meta":{"origin":17897,"position":0},"title":"There is no real estate inventory problem in Oceanside, CA","author":"Brian Brady","date":"January 11, 2013","format":false,"excerpt":"How often had you heard real estate agents complain about \"the inventory problem\" this past year?\u00a0 I used to think their complaints were farcical until these past 3-4 months.\u00a0 I have about a dozen pre-approved buyers out looking for homes.\u00a0 Interest rates are low and the foreclosures are getting snapped\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":533,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/533\/for-sale-by-owner-sellers-can-help-move-real-estate-market-into-new-buyers-world\/","url_meta":{"origin":17897,"position":1},"title":"For-sale-by-owner sellers can help move real estate market into new buyers’ world . . .","author":"Greg Swann","date":"October 13, 2006","format":false,"excerpt":"I gripe about the meager little 350 words I get in my column in the West Valley sections of the Arizona Republic. What I want is 1,500 words on page one of the Sunday Buiness section! But today's column (permanent link) is an example of how 350 words can effect\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2181,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2181\/a-consumers-guide-to-the-divorced-real-estate-commission-will-the-negotiating-their-buyers-agents-compensation-make-buyers-more-practical\/","url_meta":{"origin":17897,"position":2},"title":"A consumer’s guide to the divorced real estate commission: Will the necessity of negotiating their buyer’s agent’s compensation make buyers more practical?","author":"Greg Swann","date":"November 8, 2007","format":false,"excerpt":"Part II: How buyers can finally take a seat at the grown-up's table When a potential home-seller calls me to set up a listing appointment, very often the first question I will hear is, \"How much do you charge?\" A motivated seller is done with the house, and now all\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":660,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/660\/dual-agency-smack-down-real-estate-in-real-life\/","url_meta":{"origin":17897,"position":3},"title":"Dual Agency Smack-Down: Real estate in real life . . .","author":"Greg Swann","date":"February 18, 2010","format":false,"excerpt":"Kicking this back up to the top. I wrote this on November 19th, 2006, but nothing has changed since then. But, as it happens, our friends at Agent Shortbus have taken up the topic of dual agency, albeit without reference to anything rigorous or dispositive. We have a whole category\u2026","rel":"","context":"In "Dual Agency"","block_context":{"text":"Dual Agency","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dual-agency\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2555,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2555\/if-youve-finally-found-your-dream-home-dont-dawdle\/","url_meta":{"origin":17897,"position":4},"title":"If you’ve finally found your dream home — don’t dawdle","author":"Greg Swann","date":"February 1, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link): \u00a0If you've finally found your dream home -- don't dawdle Here's a paradox for the ages: It's been a strong buyers market for more than two years -- and yet buyers still can't afford to be lax\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":541,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/541\/why-the-traditional-real-estate-commission-model-is-broken-and-needs-to-be-replaced\/","url_meta":{"origin":17897,"position":5},"title":"Why the traditional real estate commission model is broken and needs to be replaced . . .","author":"Greg Swann","date":"October 15, 2006","format":false,"excerpt":"These are the concluding paragraphs of Mark Nadel's white paper on real estate commissions. The executive summary has been quoted all over, but I think this text is more compelling. For what it's worth, I think Nadel has hit a home run. There are things he doesn't know about, which\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/17897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=17897"}],"version-history":[{"count":6,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/17897\/revisions"}],"predecessor-version":[{"id":17910,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/17897\/revisions\/17910"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=17897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=17897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=17897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}