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Is it a Buyers or Sellers Real Estate Market in Tacoma Washington?
Buyers / Sellers Market When you hear these terms you might know what they mean but then again you might not know exactly how they will apply to you.
Several years ago we were in a sellers market. Basically its a market where the sellers has most of the advantage. Currently we are in a buyers market where the buyer has the advantage. Both markets can work well but the benefits are usually for one side or the other.
What is a Buyers Market?
A buyers market is when there are too many homes on the market and not enough buyers. This makes the prices of the homes go down and cause sellers to be more motivated. This being said, buyers have the advantage by being able to negotiate a great deal on the home and getting much of what they want from the sellers. This can be a good or bad position for buyers though in that there could be lack of buyers due to the fact the interest rates are high. Buyers simply cannot afford to buy a home with a mortgage with interest rates too high.
Although right now is a great time because the rates are still ... more
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