Jason we have had several other threads and posts on this topic. Suffice it to say there are buyers out there. In 2006 there were more. In 2005 there were more then in 06….What you have filtered out of the market are speculators and flippers. We are also starting to see the filtering out of people who need 100% financing although NOT NEARLY as much as people on this site would hope for. There is plenty of 100% financing still out there.
In general I believe alot more buyers are fiscally sound, looking for a good deal, not in a rush, have cash available for a nice size down payment, and are going to be settling in for awhile. Basically I would characterize the buyers in todays market as a the type of buyers you want in a market.
Before everyone jumps on me I am not saying there are alot of buyers out there. I am also not saying prices will not continue to decline. I am saying that I think we have weeded alot of the muck out.
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It seems to me that we get posts at least once a week and maybe more of people who are thinking to buy. Now I would suppose just like crime, the number of things we see posted is alot smaller then the actual number out there. So maybe for every person that posts this thinking of buying post, maybe there are 10 lurkers out there who are thinking of buying but don’t post it because they don’t want to get flamed by the posters here.
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So the long winded answer to your question Jason is that there are buyers out there and no they are not idiots. In fact they are savy and may be wanting to buy or needing to buy for many different reasons. At least they know what is going on and they are going to keep their eyes open.
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dpsvend you are not alone and there are plenty like you. I am one of them… I have a healthy downpayment ready to go and am being very selective and am in no rush. I am buying for the long run as well… I undoubtedly will not be able to wait until the bottom because I project it to be a few years out, maybe 2010 or 11.. but I know what I don’t know so I will be okay. Sounds like you will be as well. If you can hold off, try to do so… I think CV will come down but it is holding up pretty well so you may need to wait awhile…
