Phoenix Metro Area And The Home Buyers Edge
- Date: 2007-08-15 - Word Count: 349
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The slowdown of demand and high home inventories are giving Buyers the edge. If the reports of home sales prices are making you cautious about buying a home, you will be pleasantly surprised that it's a great time to start looking. More homes are on the market then there are buyers, creating a buyers market.
In 2006 homes were selling easily at full asking price shortly after the listing, and multiple offers were plentiful. Right now there are about 30-35% more homes on the market from last year, but these homes are sitting on the market longer with few if any offers.
With all the market changes; buyers have more leverage, especially when it comes to finding real sweet deals. Buyers are being enticed with various seller and builder incentives, perks and upgrades.
Builders have a lot to loose if they have too much tied up in inventory. Houses that are sitting without offers are making the builders really uncomfortable, and that makes them even more willing to work with buyers to negotiate great deals. Financing, upgrades and other packages are being offered that in the last year were unheard of.
There are a lot of homes that are on the market that can easily be taken off by the seller. But if the seller is in the position of having to relocate, or other financial burdens, they are probably willing to compete for the deal. This includes more improvements, money back to the buyer, etc.
The typical home buyer right now has their most leverage. An experienced Buyers Agent will know where the deals are and be able to negotiate more favorably on the Buyers behalf. A good Buyers Agent won't be afraid; they are educated to the many leverage tactics that can ensure the most money for your dollar.
So if you are waiting for the home market to bottom out, best bet is to recognize the writing on the wall. Toss you hat in the ring and start looking for the homes of your dreams. Right now you have nothing to loose, especially if you are looking for a deal.
In 2006 homes were selling easily at full asking price shortly after the listing, and multiple offers were plentiful. Right now there are about 30-35% more homes on the market from last year, but these homes are sitting on the market longer with few if any offers.
With all the market changes; buyers have more leverage, especially when it comes to finding real sweet deals. Buyers are being enticed with various seller and builder incentives, perks and upgrades.
Builders have a lot to loose if they have too much tied up in inventory. Houses that are sitting without offers are making the builders really uncomfortable, and that makes them even more willing to work with buyers to negotiate great deals. Financing, upgrades and other packages are being offered that in the last year were unheard of.
There are a lot of homes that are on the market that can easily be taken off by the seller. But if the seller is in the position of having to relocate, or other financial burdens, they are probably willing to compete for the deal. This includes more improvements, money back to the buyer, etc.
The typical home buyer right now has their most leverage. An experienced Buyers Agent will know where the deals are and be able to negotiate more favorably on the Buyers behalf. A good Buyers Agent won't be afraid; they are educated to the many leverage tactics that can ensure the most money for your dollar.
So if you are waiting for the home market to bottom out, best bet is to recognize the writing on the wall. Toss you hat in the ring and start looking for the homes of your dreams. Right now you have nothing to loose, especially if you are looking for a deal.
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Jennifer and Rick LeForce are both strong and capable Realtors and as Buyer Agents they have a solid understanding of the ever-changing real estate markets, and are each uniquely qualified and enjoy helping clients get the best home for their money. Enjoy the benefits of their skills and experience and conveniently search the MLS.www.personalizedhomesearch.com Your Article Search Directory : Find in Articles
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