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Are We in A Buyers Market?
You betcha! If you’re from New England I don’t have to translate. For those of you from more gentile surroundings the answer is Most Definitely.
We think its Great... for our side (buyers). There’s a lot of reasons why our real estate market is so cyclical and I don’t want to go into all the reasons now. It’s a great discussion and debate, but it probably will never change. Jim and I have experienced the cycles so many times in our careers that we almost look forward to it.
A great deal of our time each week is spent touring properties recently (and not so recently) put on the MLS. One of the things we do is listen. There seems to be a higher level of concern about the market conditions as we go into the depths of the cycle.
Well our take is a bit different. When asked how the market is we truthfully answer, “It’s a great buyers market” and we mean every word of it. The selling agents are spending their time trying to keep the sellers happy. We get to spend our time looking for the best deals for our buyer clients. In a sellers market their is more urgency to “see it before it’s gone” and that places a great deal of stress on the buyer clients.
We make little notes to ourselves when touring about “motivated sellers” , “really want to move” , “submit all offers” and a host of other signs that the sellers are uncomfortable.
With a large inventory of homes available there is greater choice for our buyers. Mortgage rates are still reasonable and it looks like that will remain for the foreseeable future. The pricing inflation caused by the last sellers market is starting deflate. We can conduct business during a reasonable time span and still be assured that we can negotiate the best terms and prices for our clients.
So if you’d like to have a great discussion about the market conditions buy us a cup of coffee. If you’d like to take advantage of the market conditions call us and we can sit down and work out a plan for you to follow.
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