Escrows Crumbling Like a Game of Jenga

For the second time in as many months, I cancelled an escrow for a client. Many of the reasons that buyers bail out these days stem from the uncertainty in the market. People are scared of shooting themselves in the foot financially by purchasing now when values could very well dip further than they already have. That in addition to the tightening of the screws in the mortgage industry, has slowed the market to almost a stand-still.

Investing in Real Estate is a gamble...It always has been a dice-roll, even in an upswing market. If it was so easy to make money buying and selling property, everyone would do it. Now more than ever, buyers need to make calculated decisions on the property they purchase and the price that they pay...My clients think they will be able to purchase the same home in a year or two for 10-20% less than the dollar amount that was on the table when they decided to withdraw their bid. Time will tell...