What is a Buyer's Market?

How do I know if we are in one and what does that mean to me if I am a buyer or if I'm a seller?

In this crazy economy right now we are considered to be in a buyer's market. This basically means there are more sellers than buyers right now so the buyer's have the pick of the litter. Buyers are somewhat calling the shots right now and getting great deals.

There is an overabundance of inventory right now so if buyers can't get what they want from one seller, there is usually a seller down the street willing to take the offer. (For more info on a motivated seller, check out this article from my Tacoma real estate affiliate.)

So what does that mean for you as a seller?

Being a seller in this market means you need to price your home right, stage it properly and market it effectively. How and where do you start? My free in home CMA on your home can be a great place to start. I can evaluate your home and determine its current market value and maybe what it could be marketed at with come updates or changes if needed. 

I also can advice sellers on how to best stage their home by offering neutral paint, colorings, furniture and decorations. Buyers want a house right now they don't have to put a lot of work into. (For more on how to keep your home neutral visit my Everett Veteran's real estate service.) There are so many new homes on the market that are just not being sold that builders are slashing their prices almost to cost if not below. If your home is not brand new, you will need to compete with these model homes and offer something they do not. Maybe established landscape is something you can market. Views are not something a lot of new homes have. Even larger back yards or acreage is something few new developments can offer buyers. (visit my Lake Chelan real estate connection for info on how to stage kids' rooms)

But what does this mean if you are a buyer?

This is great news for you because you have an opportunity to cash in on a great deal and get a superb rate to go along with it! You are really in the drivers seat when it comes to the offer but remember, don't get too prideful and loose out on a house you may really have fallen in love with just because you think you can get everything. Be reasonable. Remember, the seller is just trying to not loose their shirt and who knows why they need to sell but be compassionate during this time as although its a great deal for you, it maybe a loss for the seller. And you wouldn't want that on your side someday.  (Want to know more about building a home? Visit my Yuma real estate contact)

But definitely take advantage of the great interest rates right now and shop around. Not only through the hundreds of homes on the market but for the right loan as well. Be sure you understand everything you are signing and be confident you won't fall victim to the subprime mortgage bust that is burying so many sellers right now. (If you are a seller facing foreclosure check out my Kennewick real estate link here.)

For more information on your specific Sedona real estate or a Sedona luxury condo or home you may have seen online don't hesitate to contact me. I would love to be your Sedona real estate expert!  Dominican Vacation and Water sports - Come to Cabarete Dominican Republic to get the best vacation and water sport activities: windsurfing, kite-boarding, surfing and excursions. Compare Home Insurance -  Get Home insurance quickly with House Insurance Rates! Jackson Hole Vacation Rentals - At Apex Jackson, we provide the Jackson Hole area with the finest luxury rentals, property management and real estate services. Temecula Real Estate - Executive Home Rentals help you find the right home for rent in Temecula, Murrieta, Canyon Lake & Hemet.