With low mortgage rates and still many “want to be homeowners” not being able to buy a property, the rental market is still a great investment for someone who is considering getting into the rental market. There are also many homeowners, who when buying their move-up house, see the opportunity to offer their previous home for lease rather than selling, and often rent it out for more than their current mortgage payment.

2014 shows great signs that it could become a strong buying market. The huge difference between buyers from 2012/2013 to a 2014 buyer is that today’s buyer is a much more patient buyer. When the house is not priced right they are willing to postpone the purchase and wait until the price is within the range for which they are willing to work. When the house would sell at a price higher than they were willing to pay, they have no trouble moving on and looking for the next opportunity. The 2014 buyer is not falling in love with the house they are falling in love with the deal. And when the deal is not right they move on.

Buyers are worried about the low inventory and that is what has taught them to be patient and wait for their right deal to come across their desk.

What does this mean for a seller?

Just putting your house on the market and hoping it will sell will no longer be enough. Your home has to be the seductresses to attract buyers and it needs to be priced right. Today’s buyer is well informed through the use of the internet and with the help of their buyer’s agent. When a property is priced to high they are more than willing to walk away and wait for the seller to lower their price. They are not in the mood to deal with long negotiations.