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Prepare, the "Sleeper" Buyers are Starting to Come out Strong

I have noticed over the course of the past 6-8 weeks that my "sleeper buyers" have begun to emerge and become VERY active. I call these buyers "sleepers" as I have been working with them for some time and they all told me that they were going to wait for the market to slip and prepare to buy when it does. They have spent the last few years saving money, working on their FICO and educating themselves on the market.

It seems that they are now starting to feel that the time is right for them to by. They seem to feel that the rates are still decent, inventory is high and the market is adjusting in their favor more and more. These are not doom and gloom people who felt that the sky was going to fall. They are not looking to take advantage of sellers in bad positions. Nor are they investors looking to low-ball properties. Short and simple, they are owner occupied buyers who just want to buy a decent home at a FAIR price.

The thing about these buyers that I am working with is that they are VERY qualified. Most are coming in with great FICO scores(720+), solid lenders and most importantly big down payments. They are serious, aggressive and ready to buy.

Several other agents in my office as well as other offices have noticed a spike in buyer activity as well. So hold on because there may soon be a wave of "Sleeper Buyers" coming your way as well.

Posted by Joe Zapata - Your Burbank Real Estate Expert on 08/25/2007 05:45 PM

Comments (7)

burbank real estate, buying real estate, burbank homes for sale, selling homes, realtor, escrow, buying homes, education

7 Comments on Prepare, the "Sleeper" Buyers are Starting to Come out Strong

Yes I am noticing virtually the same thing here in the Summit New Jersey area as well. The home buyers are realizing that the market is not going to crash here, actually the opposite, the market has started to appreciate a little bit again and the home sales have been picking up since May.

All my Best,

James Boyer

Realtor Associate

Keller Williams Real Estate

Summit, NJ 07901

08/25/2007 06:16 PM

by New Jersey Real Estate James Boyer Morris, Essex & Union County NJ Realtor (RE/MAX Properties Unlimited, Real Estate)

Maybe over there in California... But not here in Las Vegas, Nevada.

08/25/2007 06:34 PM

by Arina S. Hanciulescu (ELITE REALTY)

It might also be helping that the news is constantly telling them that we could be at the lowest point price wise and we will see the prices increase as early as 2008. So that is definitely a factor in motivating them to get it together and get in before the new year rolls around.

I think it is great to see them coming out, and I for one hope it picks up even more here in the next few months!

08/25/2007 06:43 PM

by Andi Eddlemon-Long Beach,CA Real Estate Agent (Team Eddlemon)

Joe,

Excellent news. Things are starting to stir up, at least in some areas. It really has been a mystery, to some degree, why the buyers have been so quiet. The negativity in the news has certainly not helped any. I'm just waiting to hear from our agents that the same is going on here.

08/25/2007 07:01 PM

by Esko Kiuru - Las Vegas NV Mortgage Consultant (Sinifox Financial)

James - I am glad to see that other markets are starting to see a bit of the same.

Arina - I am sorry to hear that your market is not one that has seen this shift as of yet.

Andi - I agree, but it all depends on what station they are watching, lol. I hope the fall will be fruitful as well.

Esko - You are in the same market as Arina, I hope you guys start bouncing back soon as well

08/26/2007 12:41 AM

by Joe Zapata - Your Burbank Real Estate Expert (Keller Williams Realty Media World)

Joe - Nice to hear some good news. It has been an excellent time for the "sleepers" to work on their credit and save some money. Now they will be able to enjoy the benefit of their efforts. The smart ones will be contacting great REALTORS like you!

08/26/2007 11:01 PM

by Laguna Homes|Laguna Condos| Laguna Real Estate|Marlene Bridges (Sherman Smith & Associates)

Marlene - Thank you for your kind words. I hope that they are smart enough to call you as well :)

08/26/2007 11:13 PM

by Joe Zapata - Your Burbank Real Estate Expert (Keller Williams Realty Media World)