A Colorado Company
Summit County
Real Estate
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Blue
Valley Acres, Breckenridge,
Copper
Mountain, Dillon,
Frisco,
Keystone,
Silverthorne,
Soda
Creek,
Summit
Cove
Cell: (480) 239-5174
RealEstate@
TriMountainRealEstate.com
| Market Conditions: No matter the condition or desirability of a property, its value will be affected by current market conditions. Here are the various conditions you may encounter and how they will affect you: Balanced Market: The number of homes on the market is equal to the number of buyers (supply equals demand). In this market, prices are stable and homes sell within a reasonable period of time. It is a calm atmosphere with Buyers having a satisfactory number of homes from which to choose. Seller's Market: The number of Buyers exceeds the number of homes on the market (demand greater than supply). In this market prices are increasing and homes tend to sell quickly. As a Buyer you will probably have less negotiating room and may experience competing offers when trying to purchase your home. Buyer's Market: The supply of homes exceeds the number of Buyers (supply greater than demand). In this scenario prices tend to drop and the properties stay on the market longer. As a Buyer you will have more selection and less competition and thus be better able to negotiate a good deal. In Summary: When you understand current market conditions, you are better able to position yourself as a Buyer. It helps to know if you are in a Seller's, Buyer's or balanced market when deciding what price to offer. In a Seller's market, there is little selection and you may have to make a full-price (or even higher) offer if the home is properly priced in order beat the competition. In a Buyer's market, you have a lot more selection and plenty of room to negotiate. In a balanced market you will find a good selection of homes for sale and have a reasonable amount of time to decide on a home and negotiate the price. |
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