Buying A New Home Market Essay

752 Words Apr 9th, 2016 4 Pages
Buying a new home can a difficult challenge at any time, but buying in a seller’s market makes the challenge even more difficult. Across the country, the supply of new homes on the market is slow and the demand is high, resulting in a position of power for home sellers. Buyers need to be able to adapt and raise their game to compete in a difficult market if they are to purchase the right home.
Below is a guide for buyers to rise above the competition in a competitive sellers market.
How to know you are in a seller’s market?
The housing varies from town to town and state to state, so how o you know if you are in a seller’s market?
There are two signs that indicate a seller’s market:
Properties are being sold for more than the asking price
Properties don’t stay on the market for long
Take a look at the property listings in your area. If most of the houses for sale have been on the market for more than six months, you are not in a seller’s market. If the ultra luxurious high-end properties are the only homes that have been on the market for months, it is an indication that houses are being snapped up quickly.
Be a property predator
To achieve success in a seller’s market, you must be ready to pounce when the right property appears on the market. House hunting must be a priority in your life, not something you do when you have nothing else to do.
Treat your property search like a hunt for a job and always check the listings. If you receive a call about a viewing, make the time…

Related Documents