How to Make Your Own Buyer’s Market
Right now it’s a seller’s market, which means that sellers have the upper hand and buyers have to do their best to squeeze out a decent deal—but in real estate, markets aren’t set in stone. There are plenty of people, including savvy real estate investors, who buy in a seller’s market. You might want to wait until a buyer’s market pops back up (as they always do) but what if all the other stars have aligned to let you know that 2014 is your year to buy?
It’s possible to stack the odds in your favor and even carve out your own buyer’s market. Both types of markets ebb and flow, and just like any deal the right negotiation tactics can work wonders. As a buyer in a seller’s market, it’s all about making the right moves when poring over those new listings in Utah. Is it a buyer’s market—for you—right now? Yes, if you know how to work it.
Don’t Dismiss Timing
There are certain trends in real estate that remain true no matter the market. One of which is that summer is prime buying season, meaning there are more buyers and the odds of a bidding war increase. Sellers know this is the best time to have a property on the market, and you’ll likely be paying more in July than in December for the same property.
Choosing to buy during the holiday season, in bad weather or at the end of the year when sellers might be more desperate to unload property is a wise move. However, that’s just one tactic to try. The best tool in your arsenal is getting a Realtor® in your corner. They can do the negotiating, dirty work and research for you so that you don’t get stressed and make a rash decision.
The Importance of Research
When you know the relative value of a property compared to others in the neighborhood, everything wrong with a property after a comprehensive home inspection and potential tax deductions you may qualify for, you can help turn a seller’s market real estate transaction into one that’s more favorable for you. Ensure that you can select the Home Inspector for the inspection and that every possible flaw is uncovered (such as poor landscape grading that increases the odds of basement flood damage).
Your Realtor® can also help you pinpoint sellers who need cash quickly or who don’t have a quality agent helping them. Survival of the fittest is a very real concept in real estate, so make sure you’re in shape.
Blog Archive2014-12-31 05:46:07
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