Buyer’s Market: 
The tides are changing and we are seeing what has the earmarks of a seller’s market rather than a buyers market. What does the mean to buyer’s and seller’s and what effect does it have on value?
Sellers Market:
A seller’s market is what you have when demand is greater than the supply. Consumers are willing and able to spend more on real estate, so sellers will often see several consumer buyers competing to buy their property, which drives up the price. This means that buyers will have to spend more to get what they want. This is the ideal situation for sellers because they get a more favorable price for their homes.
Buyers Market:
A buyer’s market is the opposite and is what you get when there is greater supply than demand. There are more people offering to sell houses than there are people wanting to buy houses. In a buyer’s market, sellers may have to accept a lower price than they want to sell their home and may have to resort to offering monetary incentives. This is the ideal situation for buyers because they can get a great deal.
The change in tides makes this a favorable time for sellers to offer their homes for sale. They are more likely to obtain a higher selling price if buyers are competing to purchase a limited number of offerings. On a regular basis I am receiving reports that homeowners are receiving multiple offers. Many times the multiple offers are received within a few days of one another. The listing time is becoming shorter and shorter and overall the values have increased.
Priority Appraisal and Mortgage Services Inc. is a residential appraisal firm experience in all areas of residential appraising in the Tampa Bay area. Focused in the Pasco, Pinellas and Hillsborough counties for the past 14 years. At Priority Appraisal and Mortgage Services, Inc. our customers are out priority. We provide fast accurate appraisals in a timely manner. We go above and beyond to fulfill your needs with any and all additional market information to serve your requirements. For more appraisal info visit: http://PriorityAppraisalandMortgageServicesInc.appraiserxsites.com or call Shari Peterman directly at 727-505-6706. I look forward to hearing from you.
