They say there are two motivating factors when purchasing large items like real estate, fear and greed. Interestingly, buyers tend to be most interested in buying when we are in a Seller's market (actually being greedy when they should be fearful) and less interested in buying in a Buyer's market (being fearful when they should be taking advantage of the amazing values).
In our local island markets, we are seeing this scenario play out every day. Buyers want to purchase the Sarasota lifestyle which we can offer them, yet hesitant to follow through. Those who do commit to buying are finding good choices, great values and historically low interest rates. They are also getting to start enjoying their life today, rather than waiting and worrying.
As Warren Buffet has said on many occasions, "Be fearful when everyone is greedy and greedy when everyone is fearful."