Today most buyer's that make offers on properties are coming in well below the list price of the homes they want. So, are we in a buyer's market?
Overall, with the inventories that are out there and the negative press we hear about the real estate market I think the sentiment is leaning toward a buyer's market in Louisville and Oldham County, KY and in some areas the feeling is stronger than others.
But that is a generalization.
I think what type of market it is comes down to a case by case basis.
You might find a builder with inventory of 2, 3, 4 or more homes that they need to unload to stop the monthly heaving of cash on interest and they might be willing to come down substantially to stop the bleeding. Especially if they are building homes in the $400,000 plus price range. If you want to know of some areas I think there is opportunity to negotiate in some upscale neighborhoods, send me an email at info@familymoves.com or visit New Constrution Deals let me know what areas you are interested in and I will get the info to you.
Another opportunity that gives the buyers and edge is relocation properties. Either the seller is being transferred or has been transferred and must sell their house to make the move to the new area. The seller must make something happen here before they can buy something in the new city. Or even better a relocation company takes over the house and that takes all the emotion out of selling the house and it becomes strictly a business decision. How long do they want to sit on it. You offer at a price that makes sense to you and they either say, "Yes", "No" or Counter Offer. To see if there are any Relocation Properties in areas you want email me or visit Relocation Deals.
And sometimes, even in a buyer's market, you wil run in to the right house in the right area, with all the right updates and ameneties, and then everything changes. On that particular house, it is a seller's market. You will pay what the seller wants.
So, it all really depends on the seller's situation to determine if the house you are interested in is a buyer's or seller's market.
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