Buyer's Market, Seller's Market? A Market in Transition
Copyright c 2007-2008 Clint Wooley
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 Realtorr 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, or more than 20 to 25 overall before making a decision.
Having an experienced Realtorr 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 Realtorr 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 Realtorr can help make it happen...to find a Realtorr with proven negotiating skills and more experience than the average Realtorr, ask your friends and family...or for a referral to a proven performer, you could always use a Realtor referral service like HomeMax.org. Its a free service!
About The Author:
Clint Wooley is co-owner of Sunscape Rentals and Sales, and HomeMax.org, a helpful source for information, tips and articles for first time home buyers. HomeMax offers free Realtor referrals and Lender referrals. HomeMax Case Managers will help guide you through the home buying process. http://www.homemax.org
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