Are you in a Buyer’s or Seller’s market?
Buyers’ Market – when property inventory is high and sellers are eager to sell, buyers have the upper hand and can negotiate prices down.
Sellers’ Market – when there is limited property inventory and buyers are competing for minimal homes, sellers have the advantage.
Everyone wants to buy low and sell high, but that isn’t realistic all the time. Market conditions, location and availability may favor the buyer or seller. Determining which market you are in will guide your strategy tremendously when buying or selling a home. Hiring a real estate professional is always a good idea to help you navigate the road.
Follow these guidelines when buying:
- Get pre-qualified; diffrent than pre-approvd
- Enlist the help of a qualified Realtor
- Pick your neighborhood, research your neighborhood
- Determine priorities in your house – size, style
- When you find your perfect home, make an offer and negotiate final purchase price
- Property will be appraised and inspected
- Close on home and get your key!