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Tips On How To Get The Home You Want In A ‘Seller’s Market’
A “seller’s market” happens when there are more potential buyers than homes for sale. In a seller’s market, people looking for a home may feel frustration and not easily find the home that they want. When they find a home for sale that they like, the seller of the home may receive multiple competitive offers at the same moment.
The seller is in an excellent position when this happens. Sellers can pick from the purchase offers to choose the one they like the most. Even if an offer is the same as another one, sometimes it is not the offer chosen by a seller.
Causes Of A Seller’s Market
Seller’s markets arise because a particular area is very desirable. There can also be limitations that do not allow any further development of residential properties in an area. Well-established neighborhoods in up-scale market areas are typically likely candidates for becoming a seller’s market. Easy credit financing is another contributing factor.
Check the median sales price as a percentage of the listing price for an area. If it is greater than 100%, this is a seller’s market.
Buying A Home In A Seller’s Market
If you must live in a certain area, and there are extremely compelling reasons for ... more

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