When you buy your new home, you want to make sure you’re getting the best possible value for your money. You may have heard the terms "buyer's market" and "seller's market" and are now wondering what effect these conditions have on you as you move ahead with your transaction.A buyer's market is what you get when there's more supply than demand. There are more people looking to sell houses than there are people looking to buy houses. In a buyer's market, sellers may have to accept a lower price than they want to sell their home and may have to resort to staging and incentives. This is the ideal situation for buyers, because they can get a great deal.A seller's market is just the opposite. The demand is larger than the supply. People have more money to spend on real estate, so sellers will often see several buyers competing to buy their property, which drives up the price. This means that buyers will have to spend more to get what they want. This is the ideal situation for sellers, because they get a great price on their homes.It's important to remember that even within the same country or the same state, there can be several different markets. So you might run into a situation where you're both selling your home at an advantage and buying your home at an advantage, or any combination of the two, depending on where you decide to move to. This is often a factor in people's relocation decisions.Buyer's markets and seller's markets don't last forever. It's hard to predict what the market will do with any accuracy, though, and things change slowly. You might end up waiting months or years for things to change. And when circumstances do change, they may not change in your favor. This is an important factor to consider when you're deciding when to buy or sell real estate.
Author:Christopher Miguez Phone: 318-452-7143 Dated: February 9th 2014 Views: 710 About Christopher: ...
Louis Williams is the CEO for The Williams Team which now has 14 members total. His Team consists of four Listing Specialist, five Buyer Specialists, two Transaction Coordinators, Director of Sales, Listing Manager and Listing Assistant. The Williams Team has had nearly 100 Million Dollars in gross sales over the past nine years. Louis' Real Estate Group is among the top 1/2% of Realtors in the Greater New Orleans Area. He has also been awarded the prestigious NABOR Platinum Award for the top 1/2% of Realtors for the past five years and named the #1 Real Estate Group in the Area 2014.
Keller Williams Realty Services 985.727.7168 Independently Owned and Operated Licensed in La Mandeville LA