Real Estate inventory and your advantage
If you are a home buyer and if there is a lot of real estate inventory, in the way of homes for sale, then you are in what’s called a buyers market.
You will be able to have us negotiate a better offering price and have it more easily accepted by the home seller.
As a home buyer in a Buyer’s Market, you will also be able to get certain concessions paid by the home seller.
For example, maybe the seller will allow for the following items if it is a Buyer’s market:
- A lower than asking price offer
- Paying a buyer’s closing costs
- Contributing to a carpet/paint allowance
- Conducting more repairs/renovations per the buyer’s request
This is the real estate market condition where the seller benefits. The real estate inventory will be low and the buyer drive will continue to be operating at a high level.
This type of real estate market will keep real estate prices climbing and home buyers competing with each other on every single home and real estate listing for sale.
If we are in a Seller’s real estate market, the home sellers will be able to have their cake and eat it too.
In a Seller’s market a home seller can expect:
- Above asking offering prices
- More lenient appraisers being assigned
- More secure offers with higher down payments and better loan types
- Multiple offers
- Faster Closings and more agreeable terms pertaining to the seller’s advantage
- Less in the ways of buyer credits and concessions
Keeping tabs on the real estate inventory coupled with the home buyer drive or lack of it, will keep anyone interested in Santa Clarita real estate or real estate in other Southern California Cities up to date with the current state of the real estate market.
There are advantages to be had in a Buyer’s or Seller’s market. Each party, besides the obvious, can get certain benefits when the market is not shining in their best light. If a home seller is in a seller’s market, a home buyer maybe able to get certain things not normally given in a market of that type. The same applies to a buyer in a buyer’s market, a home seller maybe able to obtain advantages not typically obtained in that type of housing market scenario.
The trick to either one of these scenarios playing out is having an expert on your side. Someone who has been in the real estate business of home buyer and seller representation. A Realtor who has been tried by fire and has a varied background. Call me when you are ready for me to be of great assistance. I’m always watching out for my home clients, whether buyer or seller. I have my clients six. I’m Connor with HONOR.