What is your Market Strategy?
Ben Kolkman, REALTOR
While the entire market looks one way, the market for each individual home is very different. Sometime hot, sometimes cold, the real estate market varies widely. The best way to get the most out of this transaction is to clearly define, and write out, your strategy for approaching the purchase and/or sale.
In the today's real estate market not ALL sellers loose, nor do ALL buyers win.
Everybody's situation is a little different, as is every home. What are your goals? How's the market for the home type, area & price you are buying/selling in? Build your strategy around these realities.
You may be buying your dream home in a hot market, and selling a starter home in a slow market. Or, buying into a slow market and selling in a hot one. Your decisions about what to do, and when, should be based on your strategy.
Everyone can "win" in this market, and anyone can loose as well. The difference is determined by planning and strategy.
Remember that you are not buying or selling "the market" your dealing with specific properties, and dealing with individuals. What the paper says "the market" is doing isn't necessarily what you will, or should, expect to find.
Look for quality, think of resale, and don't settle. But when you find the home of your dreams...don't hesitate and don't haggle over the small stuff. You'll end up with a great home at a fair price, and you'll be happier with your decision with every passing year.
Ben--Sounds like you and I agree on the status of the Twin Cities market.