Montgomery County: Buyer or Seller Market??
As we've all heard time and time again, "It's a great time to buy!" True, but has the word spread so quickly and with such momentum that the market could be turning back in favor of the seller? There are many factors that could all be up for debate, but the bottom line is: Correctly price your home and the buyers will be there. "If you price it right, they will come." Of course, this is a moot point if you're a homeowner who bought in 2005 or 2006 and you are unable to price your home anywhere near the foreclosure & short sale market. Still, if you're in a position to price your home aggressively, if you are selling through the short sale process, or if you're a foreclosure agent/bank, the offers are coming and they are coming fast!
Recently, I have had the pleasure of working with a large amount of first time home buyers/investors and have also been able to list an estate sale. The first timers are looking to take advantage of the low rates(Hurry everyone. We've seen a hike, but they're still at HISTORIC lows), low prices, and the high inventory. This is great as a buyers agent, but they're not alone and every home I write on is receiving multiple offer. The investors are drooling over the opportunity to purchase a distressed REO property and turn into a potential cash cow. While the sellers of the estate sale are in a position to price the home fairly and draw all of these active buyers. What we're seeing in the first week of listing is tons of interest and multiple offers that might drive the price above our initial list price.
So, while there are still good deals and rates, it's not all bad news for the sellers who have played their cards right or are in a position to list at a competitive price. Buyer or Seller Market?
Recently, I have had the pleasure of working with a large amount of first time home buyers/investors and have also been able to list an estate sale. The first timers are looking to take advantage of the low rates(Hurry everyone. We've seen a hike, but they're still at HISTORIC lows), low prices, and the high inventory. This is great as a buyers agent, but they're not alone and every home I write on is receiving multiple offer. The investors are drooling over the opportunity to purchase a distressed REO property and turn into a potential cash cow. While the sellers of the estate sale are in a position to price the home fairly and draw all of these active buyers. What we're seeing in the first week of listing is tons of interest and multiple offers that might drive the price above our initial list price.
So, while there are still good deals and rates, it's not all bad news for the sellers who have played their cards right or are in a position to list at a competitive price. Buyer or Seller Market?
posted by Ben White at
7:39 PM
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