A buyer’s market can refer to the point in the market where sales have been low inventory is still low, but maybe sales are on the way back up. You need to step in and purchase whilst sellers are still more realistic.
As a seller, you do not need to be unhappy that it is a buyer’s market. A buyer’s market does not mean that your home won’t sell. It just means that your home may not sell for what you are expecting for it. Therefore, if you are planning on selling your home in a buyer’s market, abandon all sentiments and set realistic expectations by looking at recent sales of comparable properties.
If you are not happy with the statistics regarding recent sales of comparable properties, you might want to wait until the market turns in your favour. As a seller in a buyer’s market, you need to be very motivated from the beginning itself, otherwise your property may end up languishing in the market. Only put your home up for sale in a buyer’s market if you are a very serious seller.
As a buyer, you will get to pick from many options in a buyer’s market. However, this does not mean you should skip your research. Evaluate all your options – in fact, during a buyer’s market, prized locations which were earlier not available within your budget may open up. You could choose to seize the opportunity and enter the best areas while you have the chance.
Our advice is that you should move forward with deals in a buyer’s market after having a team talk with us, we can provide real time data that will help you find the best deals in today’s market.