Buying or Selling Real Estate in a Sellers Market

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To Sell or Not to Sell, That is the Question.

Do You Really Want to Sell Your Home in a Buyer’ Market?Everybody always thinks about a buyers market as a bad thing for sellers? This may not be true. If you are selling your home and are not planning to purchase a replacement, or if you plan to buy a less expensive home, then “yes”, a buyers-market is a bad thing for you. If you are in one of these two categories, then you should ask yourself; Do I really want to sell? Remember that in a buyer’s market, you are not going to get the great price you want, you might not even get what the home is “worth.” Therefore if you don’t have to sell now, it might be best for you to wait for a better market.

There are two other categories however, that apply to many sellers and to these sellers a buyers market can look pretty good. If you are selling your current home and planning to purchase a more expensive home, this is a great time to make a move. A 12% price decline on a more expensive home is more total cash saved than the same 12% loss on your less expensive home. “Yes”, your house is “on sale” but so is the one you are buying, and the savings on the more expensive home is even better.

If you are both selling and buying in the same price range, it really doesn’t matter that prices have fallen. You sell AND buy for less, it is a wash. This combined with the fact that there is WAY more inventory to choose from right now so you can be picky. Sellers are willing to make more repairs, pay for more incentives and give you more time to close escrow on the house you are selling. Remember, for half of your real estate transaction, you will be the “buyer,” and THIS is your market!

Please tell a friend and spread the word!