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Grumpy buyers

Posted by Scott Van Voorhis June 6, 2012 10:28 AM

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OK, the buyers are out there and buying as the busiest spring market in years draws to a close.

But they are not always happy with the choices, especially here in still over-priced Greater Boston, home of the $800,000 teardown and $1 million-plus fixer-upper.

Redfin just surveyed home buyers across the country, including here in the Boston area.

And surprise, surprise, the biggest gripe was a lack of decent inventory.

In fact, 54 percent of Boston area buyers who responded to the survey listed inventory as their top concern, followed by 23 percent who were more concerned about the still shaky state of the economy, according to Redfin.

That no doubt has helped fuel multiple offers for the more desirable homes out there – 44 percent said they had faced competing offers.

Here's what Nasochkas wrote the other day on the comment board:

As for homes...I have had a very different experience from Hoochie. We are first time buyers and hope to buy as soon as we find the right home. The problem is finding one and actually being able to get it in the 350-400K range. We have already been outbid twice (and were willing to go above asking). Most listings we see are either for totally dilapidated garbage (we are not fixer-uppers) or they are sold within a week of listing. What real estate crisis?

So what’s pushing buyers off the fence now?

The vast majority, 69 percent, cited the lure of low interest rates, Redfin notes.

So are you a grumpy buyer?

This blog is not written or edited by or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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