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Most people are wondering if the buyer’s market will hang around this year, and how much interest rates will fluctuate. 1. More women will buy homes for themselves. This growing trend will continue. No more waiting for Mr. Right, they’re creating security for themselves. 2. The buyer’s market will probably continue. If prices haven’t decreased in your area, there’s a good chance they will. 3. More counteroffers will fly back and forth. It’s important to find a feisty agent who will represent your interests. 4. Thanks to sites like this one, savvy buyers will know their market. They’ll pass on unmotivated sellers and pricey houses. Remodels will sell especially well. 5. If you’re a buyer, you can be more demanding in ’07. There will be more housing stock available, and you’ve a better chance of finding more features you want. 6. The home staging industry will burgeon. Sellers will be able to float their furniture rental fees until closing. 7. Even in a buyer’s market, sellers will continue to overprice their homes and agents will continue to list them. 8. Agents will be pinched. Desperation may make them do things, like overpricing homes (when they know better) to edge out other agents. Be wary, and only use agents sent to you by referral. Remember, your buyer’s agent is like your secret weapon. Choose strategically. See How to Choose an Agent (interior link) 9. Narrated virtual online tours will become a requirement to sell a home, instead of a ‘nice feature.’ 10. Over half of listed homes will be reduced within a month. So try not to buy houses until they’ve ‘aged’ that much.
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