What is a Buyers and Sellers Market?

You may have heard the terms before but not known exactly what they mean. The term buyers market or sellers market refers to the type of real estate market an area might be in. Currently we are experiencing a buyers market in the US right now.

BUYERS MARKET

When clients, agents and the general public use the term "buyers market" they are referring to a real estate market where the buyers are really in control of the market. There are so many homes on the Pullman real estate market right now that buyers have their pick of many homes with many options at great deals. Buyers can have the upper hand when negotiating with the sellers and can usually get a better purchase price on the home.

Buyers also determine the market in general as they are only buying what they can afford or the cheapest and nicest homes in the market. This brings the price down on all the homes and sellers find themselves chasing the market down to keep up with other buyers wanting lower and lower prices.

SELLERS MARKET

A sellers market was what we were experiencing just 5 years ago. The market was flooded with buyers able to buy homes they truly could not afford. But at the time with lenders giving away money a buyer thought they could afford a home twice as expensive as they really could. This drove the prices on homes up, the condition of the home didn't matter as much and homes were selling off the market as fast as they were listed and sometimes before they were listed.

Although this is a great market for sellers to be in, buyers were also getting outbid. Buyers would look at a home online but by the time they got to view the home in person it was already sold. Escalation clauses were in use to outbid the highest bidder by increments over the highest offer. [Visit our Fairbanks real estate mortgage connection for more information]

 Although we are in a tough buyers market, if you are a buyer right now, the options you have are limitless. Buyers can still buy a home and obtain a loan and they have many options to choose from. As a seller, it still remains tough to stage properly, and set a decent price for the home. For more information on how to sell your Pullman WA real estate or if you would like to buy Pullman homes please don't hesitate to contact our agents today!

ADDITIONAL CONNECTIONS IN REAL ESTATE:  Contact Exit Realty for all Enterprise real estate and Enterprise homes. We specialize in helping buyers and sellers of all Enterprise real estate.  As Seattle real estate experts we will guide you through the process and help you get the homes of your dreams. We have 24 tips to help you avoid paying to much for your new home. Visit Exit for all Huntsville AL real estate also.