Lehigh Valley Home Buyers Giving Up - Can't Find Nice Houses

Hard to believe? It's true!

Home Buyers in the Lehigh Valley are getting discouraged. They started the home finding process with much enthusiasm.They looked at the houses at the top of their list. Then they dropped down to their second choices. Now, they are patiently waiting for new home selections to come on the market. 

Wait! Hold On! There are a lot of homes on the Market!

This is true BUT many of the Lehigh Valley Homes need work/updates or they are Foreclosures or Short Sales.

With a Short Sale Home, the home owner might have given up on the house and stopped maintaining it. As a result, it may need work.

In addition,with a Short Sale, if the home buyer decides to make an offer, they may have to wait months to get a reply from the bank/mortgage company. Their home purchase will get put on hold awaiting lender approval.

With Foreclosures, the property may be in really bad shape and not even qualify for owner occupied financing without a renovation or rehab loan. (the good news is the lender tends to reply much faster on a Foreclosure versus a Short Sale)

A look at the Bethlehem Homes For Sale gives a glimpse of the market. If a home buyer wishes to purchase in North Bethlehem, in the price range of $125,000 to $175,000, they have 20 homes to choose from (LVAR market data on 04/07/09).  

Out of the 20, probably 10 are ousted for not meeting the Bethlehem Home Buyers needs or requirements.

In a market with a "Large" amount of homes for sale, these buyers are left with a selection of 10 homes.

What I've noticed is that many of the "10" homes left for the Bethlehem Home Buyer need work. The buyers feel they are spending a large amount of money and want a house that is in better move-in shape.

If they are not interested in any of them (or don't want to deal with foreclosures or short sales), they will sit on the side-lines patiently waiting for the "perfect house" to come on the market.

Houses in good shape and priced correctly will sell in this market. The Buyers are Looking! 

If you are considering selling your home, please contact me or visit: www.LehighValleyHomeSeller.com