I'm beginning to notice a shift in buyer's expectations.
The dream of the McMansion on The Hill is being replaced with the lure of a romantic cottage by the sea, or in the hills, or tucked away at the end of a private lane. Perhaps they've spoken with their lenders and had their dream home reconfigured by the loan amount on their pre-approval letter, or maybe they are deciding to buy what they can comfortably afford now. Either way, I think they are wise.
Perhaps it's the uncertain economic times, or maybe it's time management--it takes time or money to care for a sprawling lawn, pool and built-to-impress house. Many of my clients prefer a walk along the beach or a day trip with the family instead of a day of home maintenance.
Perhaps they are preparing for yet unknown changes, but maybe they are just happier living within their means.
Norma Toering RE/MAX Palos Verdes Realty 310-493-8333
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