Realty World – Providence Properties

Isn’t it amazing how a real estate market changes? With the up’s and down’s and the high’s and low’s…it always ends up being either a buyers market or a sellers market.
Well here in our area of California we are seeing a clear seller’s market. But calling it a “seller’s market” may not be exactly what everyone else calls it. So in my opinion why do I consider it a “seller’s market”. For one, properties are receiving multiple offers (always a good sign), but property has to be priced appropriately.
Also buyer’s are not afraid to make offers on short sales. Amazingly, those transactions are also receiving multiple offers.
And lastly, the sellers are calling the shots. Meaning that sellers are able to be picky enough to determine they only will accept “xyz” financing, maybe they require to see the buyer’s bank statements, and possible a huge earnest money deposit (sometimes all of the down payment).
In my opnion when the seller can require and actually demand this type of information…we are looking at a true “seller’s market”.
So if you are a seller, listen to your agent and appropirately price your property…sit back and enjoy the ride.
If you are a buyer…get off the fence. If you are serious…be prepared to face multiple offers and possibly strict seller’s requirement.
It’s a great time to buy or sell…either way, you need to move now.