If you have ever taken a basic economics course, then you are likely well aware that price is oftentimes a result of supply and demand. With this in mind, are home sellers always more flexible in competitive markets?
The answer to that is, it depends.
While a “buyer’s market” can certainly equate to potential purchasers having more “inventory” to choose from, it still doesn’t necessarily always mean that home sellers have to be more flexible. This is particularly the case if the seller is not pressed for time (such as with a job transfer and / or having to be in their new home by the start of the school year).
You may also find that a seller – even in a rapidly moving market – will be more apt to consider a lower-priced offer if there are other positives, such as a fast closing, that tend to “sweeten” the deal for them.
If, however, you’ve come across the home of your dreams – and the home of several other peoples’ dreams, too – you may be forced to pay even more than the asking price in order to make the home yours.
In any case, it can always be beneficial to have an experienced real estate agent on your side who can help you through the offer and negotiation process, as well as to provide you with other options just in case a particular home gets away.
Are you thinking about purchasing a home soon? If so, we’d be happy to help. In addition to providing you with details on comparative sales prices and properties that may not yet be listed, we can also help you to negotiate a price that is attractive both for the seller, as well as for your budget. So, contact us today to take the next step.