Selling a home is much more complex then people may first realize. One of the biggest issues to consider is your market and how it will impact the sale of the property. Don’t worry, there are ways to make up that money if you understand why real estate and new home rebates are good for consumers.
Determining Your Market is Key
People sell their homes for a variety of reasons. In some cases, the sale is involuntary due to issues that arise in every day life such as a job-related transfer, divorce and financial problems. For a vast majority of people, however, the decision to sell is made under less trying circumstances. If you fall into this category, determining the nature of the real estate market in your area is a critical step to take.
When determining a market for real estate in a particular area, the central issue is what kind of a market is present? There are two types – the seller’s market and the buyer’s market. Each market has particular characteristics and will impact how much time and money will be involved in your selling effort.
A seller’s market is one where there are more buyers than properties being listed. It is no secret that the United States has been in one of the hottest seller’s markets ever seen for the last seven years, but it is really starting to cool off. This doesn’t mean, however, that the national trend reflects the situation in your particular area. If your area is still red hot, you are in the cat birds seat. You can list your home with a high price for your area and still reasonably expect to get offers.
A buyer’s market is one where there are more homes being listed than there are buyers. In this situation, a home will tend to stay on the market longer than expected. Many areas of the country have historically been buyers markets, so talk to your realtor about what they think about the market.
Another way to keep more cash in your pocket is getting a real estate rebate from the realtor. Knowing you will be getting a few thousand dollars at closing can really help to turn any type market into one that is more favorable for you as a seller or buyer. Don’t assume you are entitled to any rebate, do your due diligence and make sure the realtor you choose is willing to part with a percentage of their commission before signing any contracts. For more info visit: RebatesOnRealestate.com