Buying in a Balanced Market

That’s right folks … it’s happening. We are shifting into a more balanced market.. What is a “balanced market” you ask … well, let me tell you.

The real estate market has selling trends, most recently you have probably heard a lot about the “sellers market” and from 2009-2012 (after the recession), you may have heard the term “buyers market”. A sellers market essentially means the trends indicate sellers are in the driver seat of the market. Home prices rise, bidding wars commence, agents and buyers are racing to see homes the instant they hit the market and in some cases homes may not be in the best condition. A very stressful culture for buyers, wouldn’t you say? On the flip side, a buyers market is what you would expect as the opposite of a sellers market. Buyers are driving the bus and they are loving it! They scrutinize each and every detail about the homes they view, low offers are submitted and sellers are in disgust of the hits they are taking on every angle of the transaction. eek!

So lets talk balanced market shall we? Because moving into a more balanced market from a sellers market can create some angst among sellers (and their listing agents!). Sellers are so accustomed to hearing about their neighbors homes selling in “multiple offers” in just 1 day on the market and of coarse all about the agent that sold that house and that they must be a Rockstar Agent … right? Then we have hardworking agents, doing everything right, attempting to explain the change in the market and the shift to their clients, praying their clients don’t lose confidence in their ability.

Balance is a good thing. It simply means that we can all take a breath and do our due diligence. Buyers can view homes on a more relaxed schedule and select the right home at the right price to suit their needs. While sellers are able to walk through the process without the whirlwind of showings, (packing!) offers (packing!) inspections, (packing!) and then find themselves at a closing table having absolutely no recollection of how they got there and what happened in the last 4-6 weeks!! Balance is a good thing. Have the conversation early with your agent or clients, set realistic expectations and know that this is normal. Price homes for sale appropriately, don’t reach to the next tier on price, buyers simply won’t accept it. (remember they have more time to research the market now!) Stage the home properly and always put your best foot forward, always! Because now more than ever, first (first!!) impressions are vital!

So there you have it, balance is good. And with that, right now interest rates are still super great and there IS inventory out there. If you’re looking to sell or buy, when you are ready, go for it!