In a buyer’s market, home sellers face an uphill battle in getting what their homes are worth. The media doesn’t help matters by pushing negative predictions of another crash that may or may not happen in the future. As a result, sellers begrudgingly lower the sale prices on their homes, hoping buyers will step away from the sidelines and finally begin buying again.
Buy Now To Invest In Your Future
While housing prices continue to fluctuate over a shorter period of time, real estate does appreciate over the long run. This means that even if you buy property at market value, it’s still going to appreciate in time. When housing prices are low to combat a decreased demand, the savings can be even more significant. As demand increases and the market bounces back, the value of your home may double or triple.
Sellers Become More Motivated
A buyer’s market is every home seller’s worst nightmare for a couple of reasons. Buyers know that the market is on a downward spiral and many of them are waiting to see just how low the market will dive before a rebound starts to occur. When a house is sitting on the market for weeks or months, the seller is also becoming desperate, making them motivated to negotiate.
Strike A Bargain
These factors can all work in your favor as a buyer. You can make a lower offer with an increased possibility that the seller will accept it. You’ll likely have plenty of ammunition to support your low offer by reading the news and watching for market predictions. If analysts are predicted an extended buyer’s market, you can use this to get the house you want at a bargain price. While the seller may not be happy about it, they will likely accept your offer. This can help you get more house for your money and, after you have owned the house for five years or more, you’ll likely see an upswing in the market.
While a buyer’s market can be devastating for home sellers, it can be especially advantageous for buyers. If you’re not pressured to buy quickly, waiting for prices to drop a little more can help you buy property below market value. Of course, that’s considering you won’t face the same circumstances when it comes time for you to sell the home.