Buyer’s Market or Seller’s Market?

Buyer’s Market or Seller’s Market?

In a buyer’s market, there are a lot of homes on the market, and they may take a while to sell. To sell a house, the seller might need to offer a really good price, plus additional incentives such as help with financing. If you’re buying a home in this type of market, you can take your time looking and can usually strike a pretty good deal.

In a seller’s market, houses aren’t on the market for long. In fact, they may sell before they are even listed. Because the market is so strong, many owners will decide to sell their homes themselves; you’ll see a lot of for-sale-by-owner (FSBO) homes. If you’re selling a house in this market, you’re lucky. You’ll probably get many good offers and not need to offer any additional incentives. If you’re buying a house in this market, you may have to work hard to find a house that you like and can make an offer on before it is sold…To get your offer accepted, you should be financially ready (prequalified). Also, don’t expect to submit and have accepted a contract with a lot of contingencies.

The general consensus these days are, we are in a “buyer’s market.”  What do you think?  Leave us your comment.