Hot, Normal, and Cold Markets?

By
Real Estate Broker/Owner with International Properties & Investments
Hot, Normal, and Cold Markets

Hot Market -

This is an extremely competitive market, one that is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than their asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.

Normal Market -

In a normal market, there is fairly a large number of homes available and an average number of buyers. This market does not necessarily favor the buyer or the seller. A seller may not have as many offers on their home, but he or she may not be desperate to sell either. Again, it is the buyer's responsibility to be prepared. During a normal market, the chances to negotiate are higher than in a hot market. As a buyer, you can expect to make offers at lower than the asking price and negotiate a price at least somewhat less than what the sellers are asking.

Cold Market -

In a cold market, houses may be listed for more than a year and the prices of houses listed may drop considerably. This market is advantageous to the buyer. As a buyer, you have the time to make an offer that works to your best interest. It is not uncommon to low-ball and to find that sellers are accommodating to meet your needs. Keep in mind that even though this market is a great time for buyers, you do not want to lose your dream home by being unrealistic. Your goal is to get your dream home at the best possible price.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
market trends
hot markets
cold markets
normal markets

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
201,564
Jark Krysinski *PREC (Personal Real Estate Corporation)
REMAX CREST REALTY WESTSIDE - Vancouver, BC
TeamYVR Team Leader, BA,ABR,IRES,IMSD,LLB

Hi IP - I've received my I.R.E.S. Designation in Vancouver, BC, Canada today and I noticed that you have a IRES designation as well.  I'm presently building a larger network so that your listings can be featured in my city (for an international exposure), and mine can be featured by you.  Presently I have approximately 20 listings which might be of interest to you.  

Look forward to chatting some more with you with respect to co-listing each other's properties, if you are interested in speaking further?  Cheers, Jark.

TeamYVR

JARK KRYSINSKI, REALTOR®, BA.Hon, ABR, IRES, 100%/Medallion Club, IMSD®, LLB
TeamYVR Real Estate Agent, Team Lead, Top Producer, Workaholic 
RE/MAX Crest Realty Westside, 1428 W. 7th Ave, Vancouver, B.C., V6H 1C1
Direct: 604.790.9945 | TOLL FREE: 1.855.TEAM.YVR (855.832.6987)
Office: 604.602.1111 ext. 116 | Fax: 604.602.9191 ("ATTN Jark, TeamYVR") 
1. www.TEAMYVR.com "JARK KRYSINSKI @ OUR TEAM, 'TEAMYVR' ONLINE!" 
2. 
BCCondos.net/City-East-Vancouver "All Condos in East Van by TeamYVR!"
3. BCCondos.net/City-Ladner "All Condos in Ladner by TeamYVR"
4. BCCondos.net/City-Tsawassen "All Condos in Tsawassen by TeamYVR!"
5. www.MEETUP.COM/BridgeMakers "Meet Jark in Vancouver, Group Leader" 
6. www.MEETUP.com/
BridgeMakersDowntown "Meet Jark in Downtown, Group Founder"
7. 
www.MEETUP.com/BridgeMakersRichmond "Meet Jark in Richmond, Group Founder"
8. www.MEETUP.com/BusinessBuilders "Jark Teaching Investing, Group Speaker" 
9. www.BRIDGEMAKERSGROUP.com "Vancouver Business Group" 
10. www.BIGRICHGROUP.com "Meet Jark in his Richmond Group, Group Co-Host" 
11. www.MEETUP.com/3Metro "Jark's Business Group in Burnaby"
12. www.MEETUP.com/MiddlePeople "Jark Teaching Sophisticated Investments"
13. www.TWITTER.com/SOLDbyJARK "Find us on Twitter"
14. www.FACEBOOK.com/JarkTheSaint "Find us on Facebook"
15. http://d553bf1.ACTIVERAIN.com/ "Top 3 Realtor in Vancouver, BC, Canada!"
16. ca.LINKEDIN.com/pub/JARK-KRYSINSKI/20/b6a/462 "Find me On LinkedIn"
"I Work Hard & Stop Being Tired & Feel Awesome Instead!"
Aug 04, 2012 05:20 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
3,789

International Properties

Ask me a question
*
*
*
*
Spam prevention