What is a Seller's Market?
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Seller's Market - these market conditions typically occur when there is a shortage of goods available for sale, which results in the pricing power for the seller. It is a term very commonly used in real estate when low supply of houses is met by high demand from the buyers.
These types of conditions have been present in the real estate market in and around GTA and especially in the low rise sector, for quite a few years. It is largely what contributes to the rising prices of the houses and is very much fueled by low interest rates.
To be the seller in the Seller's Market - a very good place to be. Chances are that your home will sell for a great price and very quickly too.
To be a buyer in the seller's market is very stressful and requires preparation and quick decision making.
Tips for buyer's in the seller's market:
- Get pre-qualified by a financial institution or mortgage broker
- Have your deposit money ready for quick and easy withdrawal
- Maintain a great credit score
- Don't present offers under asking price
- Know you will likely be in a bidding war
- Get on seller's good side
- Don't do it yourself, work with a buyer agent
- Be open minded and stay positive
If you are thinking of buying or know someone who may be, don't hesitate to reach out to me or introduce us, to discuss the current market conditions and strategies on how to become a homeowner. I am available for a buyer's consultation https://anetaandrews.com/misc/contactme
To get a copy of your Free Buyer's Guide click here
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