How Market Conditions Affect Your Offering Price...

Tuesday Aug 02nd, 2016

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A hot market is a "sellers market".  During a sellers market, properties sell within a few days of being listed and there are often multiple offers. Sometimes homes sell well above the asking price.  Though most buyers want to get a "deal" on a home, reducing your offer by even a few thousand dollars could mean that someone else will get the home you desire.  

A slow market is a "buyer's market". During a buyer's market properties may languish on the market for some time and offers may be few and far between.  Prices may even decline temporarily.  Such a market would allow you to be more flexible in offering a lower price for the home.  Even if your offered price is too low, the seller is likely to make some sort of counter offer and you can begin negotiations.


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