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Today’s “Buyer’s Market”

By
Real Estate Agent with Realty ONE Group - Scottsdale
   
Today’s “Buyer’s Market” - In today’s transitioning marketplace with a large inventory and uncertain direction, the buyer is often very anxious. The slide in late 2005 is in the process of recovering although no one has a crystal ball to predict when this market will turn around. Some buyers in these uncertain waters are concerned about the future value of the home they buy.
Buyers are not necessarily being greedy but many buyers are prepared to walk away from sellers who are unwilling to negotiate in this market. It is key for the seller to price his home realistically - price it right for maximum exposure. The longer a home is on the market the less attractive it appears. Listen to the experts, you are paying your Realtor for his advise and expertise. Review the comprehensive market analysis provided by your realtor and then go with your Realtor and actually preview your competition. The price should be set at what fair market value you can get, not at what you ‘think it is worth’. The appraisal you had in 2005 is not necessarily the value of your home in today’s market. With the tools available to them, buyers are well educated in the value of the homes in your neighborhood. The only thing that matters is what a buyer is willing to pay for the home today. 
Obviously the condition of your home is significant. You don’t necessarily have to install granite counter tops, but put your best food forward. Make sure it is clean, well maintained and free of extra clutter. If there are obvious items that need repair or replacement get it completed prior to listing the home. A fresh coat paint of one of the new “in colors” is an inexpensive way to give the home that designer look. Showcase your home to make it stand out from the crowd!!
Buyers—If you are serious about buying a home, you should decide if you are ready to actively shop and then negotiate a fair deal instead of waiting for prices to drop. Now is a great time to buy as it is like buying premium stocks when the market it down!! 
If you are thinking of buying or selling, contact us! Toll Free 899-464-2140
 
 

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