Understanding Market Conditions

Market conditions Characteristics Implications
Buyer’s MarketThe supply of homes for sale on the market exceeds the demand. High inventory of homes. Few buyers compared to availability. Homes are on the market longer. Prices tend to drop. More time to look for a house. More negotiating leverage.
Seller’s MarketThere are more buyers looking to buy homes there are homes on the market. Smaller inventory of homes. Many buyers. Houses sell quickly. Prices usually increase. May have to pay more and make decisions quickly. Conditional offers may be rejected.
Balanced MarketThe number of homes on the market is equal to the number of buyers. Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices are generally stable. More relaxed atmosphere. Reasonable number of houses to choose from.
Home Inspections

Home Inspections

A home inspection prior to purchasing a home or condominium can bring peace of mind when you sign the sales contract. Knowing what to expect both inside and out will help you make an informed decision about the value of the home and the future upkeep. A home inspection accomplishes two important goals. First, it…

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Buying a home of your own

Buying a home of your own

So you’ve decided you want to stop paying rent and buy your first home. You’re not alone. With interest rates at their lowest in decades, many people have discovered that mortgage payments can be significantly lower or at least comparable to the rent they are currently paying. Making the decision to become a homeowner is…

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