When someone asks me what the market is like right now, this has become the answer. There are so many homes for buyers to choose from and the tendency is for the initial offers to be quite low, so hence we counter, they counter, we counter....well, you get the picture.... A few years ago, there was no opportunity for the buyers to counter, it was give your best offer and maybe there won't be another offer come in prior to getting the one counter offer you were hoping for. If you were lucky enough to get it, then in most cases you took it and were forever grateful.
How times change. Most sellers right now are extremely happy to get offers and then, of course, the counters begin. How many counters does it take? Actually, my record this year is eight...and the deal still didn't come together. The reason to write about this is to not tell you something you already knew, we all know that it is a buyer's market. The moral of this story is that there are buyers out there looking for homes. They do have an enormous number of homes to look at and they are looking for good value. But, if you have a home to sell and genuinely want to sell, it will sell. If you want to buy a home, this is a wonderful market to do so.
No one will know where the bottom of the market is until it is here and gone. If you are waiting for the bottom, unless you have a crystal ball, you will miss it. There are many good buys already on the market just waiting to be snapped up by the right buyers. So my advice to you as a realtor who has experienced both markets is to take advantage of the great interest rates and the abillity to get a great buy, because we never know what tomorrow will bring...
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