What, you may ask, IS a buyer’s market versus a seller’s market? A Buyer’s Market, simply put, happens when there is more inventory than there are buyers. That glut of housing drives supply up and demand down and puts the buyer in a great position. More inventory means prices are lower and negotiating power is on the buyer’s side.
Usually, when inventory is high interest rates are also high as it is the crest of a market and the beginning of a down turn. Today’s market is an anomaly! Today we have very low prices Nationally AND very low interest rates. This combination is very rare and, when it happens, it creates a tremendous opportunity for buyers.
If it’s such a great opportunity it begs the question, why isn’t everyone buying? We now enter into Tim’s Theorys, a somewhat dangerous area where experience, observation and way too much thinking come together to form an opinion that may or may not be close to the truth.
First, we all watch the National news, which tells us the most dramatic truths they can create, among which are that the real estate market is one of the worst in history. What they fail to mention is that the worst seller’s market in history creates the best buyer’s market in history!
Another reason no one is buying is F.E.A.R. False Evidence Appearing Real. It is not a condemnation at all when I say people are operating in fear, but it is a fact. That fear is preventing millions of buyers from taking advantage of this amazing opportunity.
We are in one of the best markets for buyers in history and that is a fact. Seize the opportunity at hand and learn what is preventing you from entering this historical market and taking advantage of the wealth that is available to you. Seize the opportunity to buy a home or investment property while this time remains!
