As inventory increased in the years following the "sub-prime meltdown" and we switched from a "seller's market" to a "buyer's market", many buyers experienced MORE DIFFICULTY in making a puchase decision.
(OK, hold it, wasn't it supposed to be easier, now that there are more choices available...??)
The fact is that having MANY options sometimes OVERWHELMS buyers and causes BUYER PARALYSIS!
Buyers are comparing different types of homes (private sales, short sales, lender-owned, foreclosure auctions) that have different advantages and disadvantages, features. special prices, incentives and gimmicks.
To keep the buying process organized and prevent confusion, I suggest that my buyer clients follow a process which starts with them pretending to be RIDING ON A HELICOPTER:
By following this simple 3-step process, buyers find it a lot easier to pick the right property among the hundreds of available homes - and therefore avoiding confusion and paralysis.
Remember that you can always replace the roof, repaint the walls or fix the air conditioning system. But you will not be able to change the location, the character of the neighborhood or the distance from your work place. By using this narrowing approach, buyers are able to compare one home to another, knowing that all the BASIC FACTS about them (area, neighborhood, schools, crime, etc.) are no longer in the mix...!
Happy House Hunting!