Hi Buyer's and Sellers!
June is here and we have been through the Memorial Weekend. We are seeing the sands shift to a seller's market. We have seen buyer's offering full price if not over price to get the home of their dreams. Soon we will see prices increase because demand is a bit low.
Sellers may be breathing a sigh of relief - it has been a long time coming. But, where anxious seller's make a huge mistake is thinking this is the time for "greed". Try not to sell yourself short by thinking that everyone is going to pay full price. Some buyer's will walk away simply because they are not willing to pay "that price" for "that home."
Buyers, try not to sell yourselves short by walking away too quickly from a deal because the price is not what you expected to pay. As we saw in the beginning of the downturn - seller's were not willing to lower their price and their homes sat on market for a year or two. Once they realized times had changed and they changed their views on reducing prices - things started to sell. Buyers are now on this end of a deal. Realize that the market has turned to the seller's favor and you may have to pay a bit more than you wanted to. Look around and make sure you know about the market before offering on a home. There may not be a better deal out there so don't give up on the one you are negotiating so quickly. Also, remember - time is now important. No longer can you wait a week or two to make up your mind. Be decisive and know what you want ahead of making that offer. Be ready to jump on it quick before someone else does!
By all means, using a REALTOR® is the best thing you can do to help navigate through the process of buying or selling. Their knowledge of the market conditions will give you an advantage and help you not overpay for a home - or sell too low.
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