In the current economic state, the answer to this question seems obvious. But, how do you really know if it is a buyer’s market? Believe it or not, there is a mathematical equation to help you determine if it is a buyer’s market or a seller’s market. Simply take the number of houses/condominiums sold in the last 30 days divided by the number of houses/condominiums currently list for sale. If the result is greater than 50%, its a seller’s market. If the result is less than 50%, its a buyers market.
Its pretty obivous as you drive through your neighborhood that there are a lot of homes for sale. And, from everything you hear on the news and around the water cooler, it is definitely a buyer’s market. But, what if you’re the one selling your home? How do you maximize on this market? Also, you may be thinking that this is a great time to upgrade your home and get into that house you’ve been admiring in the neighborhood over. There are definitely ways to make a buyer’s market work for you, even if you’re the one selling your home.
Check back in a couple of days to learn what you can do to maximize the purchase price of your home and get into that new home of your dreams. And, remember, its always smart to talk to a Realtor when looking to buy or sell a home.
The market is price driven now more than ever before. It is real simple to determine if you have your home priced to sell… are you getting offers? if not, consider a price reduction.
By: Blaine on November 6, 2009
at 2:30 pm