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This is an extremely competitive market and is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than the asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.
In a normal market, there is a fairly large number of homes available and an average number of buyers. This market does not necessarily favor the buyer or the seller. A seller may not have as many offers on their home, but he or she may not be desperate to sell either. Again, it is the buyer’s responsibility to be prepared. During a normal market, the chances to negotiate are higher than in a hot market. As a buyer, you can expect to make offers at lower than the asking price and negotiate a price at least somewhat less than what the sellers are asking.
In a cold market, houses may be listed for more than a year and the prices of houses listed may drop considerably. This market is advantageous to the buyer. As a buyer, you have the time to make an offer that works to your best interest. It is not uncommon to low-ball and to find that sellers are accommodating to meet your needs. Keep in mind that even though this market is a great time for buyers, you do not want to lose your dream home by being unrealistic. Your goal is to get your dream home at the best possible price.
We just want to say "Thank You" to Molly and all the staff at Signature Real Estate Services in Delta for being so helpful. The sale process was not that easy because I live in Nevada and the other two live in Maryland. We were very impressed with how smoothly the sale of our land went. Everyone involved was so helpful and very professional!! You were able to put the land on the market and sell it without ever seeing us in person! Very impressive.
Signature Real Estate Services kept us updated with monthly emails letting us know how many times people viewed the property and when anyone was interested.
We are so pleased that the people who purchased the property plan to build a home on it in the next couple of years. The land had been in our family for over seventy years and now someone will make it their home.
We cannot express how much we appreciate all that you did for us.Darlene Stewart