Buyers Advice: Know Your Market Conditions
When it comes to buying a home buyers pretty much know what they want. However there is one element in the home buying process that buyers rarely incorporate into their home search and that is being aware of the market conditions which today is the situation on the ground.
The housing market has been one giant rollercoaster. From the early stages of the boom to the plummet of home prices over the last two years home buyers entering the market today have seen the housing market at two different extremes.
What Buyers need to be aware coming into this current market where interest rates are low and home prices discounted is that Investors and all-cash purchases now make up more then 1/3 of the market. All cash offers are generally hard to beat even if a conventional loan offer is higher. Cash is king right now and buyers who are diving in with conventional financing need to always ask their agent two things before placing an offer on a home.
•1. Are there multiple offers?
•2. Are any cash offers?
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