This is an extremely competitive market and is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than the asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.
In a normal market, there is a fairly large number of homes available and an average number of buyers. This market does not necessarily favor the buyer or the seller. A seller may not have as many offers on their home, but he or she may not be desperate to sell either. Again, it is the buyer’s responsibility to be prepared. During a normal market, the chances to negotiate are higher than in a hot market. As a buyer, you can expect to make offers at lower than the asking price and negotiate a price at least somewhat less than what the sellers are asking.
In a cold market, houses may be listed for more than a year and the prices of houses listed may drop considerably. This market is advantageous to the buyer. As a buyer, you have the time to make an offer that works to your best interest. It is not uncommon to low-ball and to find that sellers are accommodating to meet your needs. Keep in mind that even though this market is a great time for buyers, you do not want to lose your dream home by being unrealistic. Your goal is to get your dream home at the best possible price.
I am writing this letter of recommendation,because I called Havasu Realty about a home I had driven by in Lake Havasu City and wanted to see the inside. Suzan James just happened to be on the phone desk that day. She said she could show me the home that afternoon. That was my introduction to Suzan, who showed me a dozen or more homes over the next few weeks.
I explained that I was looking for a fixer-upper because I could probably get more house for my money. She walked me through some homes I'm sure she would rather not have gone through, but with a sense of humor made me feel comfortable looking for my dirty fixer-upper.
I have to say that by the time I found my home I felt very secure talking to Suzan about older homes. She explained how she worked with her husband, who is a contractor, so she could point out things to watch out for in buying an older home.
Finding Suzan on the other end of the phone that day was a blessing, she's a real trooper, a ray of sunshine.
I feel as if I've found a new friend here in Havasu. Thank you Suzan.