Step2: Buyer’s Market, Seller’s Market? A Market in Transition
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With a few exceptions, most of the nation is either in transition or has
already made the transition from a sellers market to a buyers market. What this
means exactly is that now may be the best time in years to purchase a first
home. Because inventories are increasing in most markets, sellers are required
to be more competitive than they were a short time ago. You, the buyer, are now
in control!
In a sellers market, it was not uncommon for a purchaser to only see a few
homes before making an offer, all because the fear of losing a potential house
to the next eager buyer was ever-present. Fast-forward to the buyers
market…Like it or not, a buyers market makes looking at a larger number of
homes important.
While it may be physically possible to see many homes in a day, and many
homes overall, it becomes very difficult to remember details and compare homes
at a certain point. An experienced Realtor®
who is familiar with your area can help you determine which home is best for
you. They are accustomed to looking at many homes, and are experienced at
helping you sort through the good and bad of each home. It is normally not a
good idea to look at more than 6 or 7 homes in a day, and more than 20 to 25
overall before making a decision.
Having an experienced Realtor®
represent you is very important in a buyers market. Having an agent represent
you means they are working for you, the buyer, and are working to get you the
best possible deal on the home of your choice. You can trust your Realtor®
to search for your home with your needs and desires in mind, knowing that they
will be ready to negotiate on your behalf, trying to get the best price
possible. Be prepared to walk away from sellers who are unwilling to negotiate
in a buyers market. They will send their agent back many times to gain your
interest again, because they do not want to lose a potential buyer.
If you are prepared to search for the right home and negotiate once you find
it, you will make a great deal on your first home. An experienced Realtor®
can help make it happen...to find a Realtor®
with proven negotiating skills and more experience than the average Realtor®,
click here.
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