We hear those phrases all the time. To be honest it really doesn't matter. Why would I say what seems to be such an unheard of thing? Simple, you have to look at the facts for both sides to determine the best decisions for yourself and not what someone wants to "label" things. Here's what I mean from both sides with the facts:
- Sellers - Higher than normal inventories. This means you have a lot of competition to sell to a limited amount of buyers. Pricing, advertising, marketing, and openness to offers is extremely important if you truly want to sell. In other words . . . normal Real Estate.
- Buyers - A lot to choose from and price is a concern. It is important to make educated and informed decisions. Know what you want in a property and know what you can afford (get that pre-approval). Make an offer. If it's turned down . . . find out why. Do you "hold all the cards" . . . no, because the seller owns the property and it is their decision to take your offer or not. In other words . . . normal Real Estate.
So what kind of market is it then? Normal Real Estate for both sides. The seller wants to sell. They put the property up for sale with it price correctly, adevertise and market, stage it, take offers, negotiate, and . . . sell your property. The buyer wants to buy, they shop, get the information they need, tour the property, make an offer, negotiate, and . . . move in. Public records on properties on incredibly easy to accesss. So if you can not see a justifiable reason that a property is priced as it is . . . make an offer you think is reasonable. If the answer is "no". Move on. There is plenty of a selection to choose from. My suggesstion is for buyer to have about 5 properties of interest when shopping. Once you "move on". You may never know, that seller may change their mind and come back to you.
In a nutshell . . . normal Real Estate. Selection is great, prices are great, and interest rates are still low. Not too bad if you ask me.