Sellers Market..

Is it a good time to buy if its s sellers market? I’m asked this question very often, therefore feel the need to answer it.

No. Its not a good time if you are looking to get a deal.

Sellers market means rates are still favorably low, inventory is very low, demand is very high.

This is when basic economics comes into play. This is when properties get multiple bids. This is when people over pay for Real Estate, sorta like inflation.. and could potentially lose money.

Some people can’t wait, some people don’t care and others have deep enough pockets that it makes no difference at all.

As much as we wish Real Estate was black and white, its not..its gray. There are way too many variables.

My advise stands through time. Where do you see the value?

Once you determine that set your boundaries. Accept the many lost bids, go slow, don’t stop. One offer will stick.

Would you be willing to pay 100k more for something that most likely will go down in value, when market shifts to a buyers market?

Purchasing a home, 2nd home or an investment; non primary residence is a huge undertaking. The process is rigid, the debt is enormous, the down payment took you years to accumulate..therefore you should be careful when deciding.

Next, bidding wars and WHY I believe they should be monitored.

I’m a Real Estate Broker, keeping it real.