December 2, 2013
How do you sum up a real estate market that is so inconsistent?
- Homes not selling for months
- Homes recieving multiple offers
- Little inventory in some areas
- Too much inventory in others.
What is the consistent part of the market? Answer. The Buyers
Put yourself in the buyers position. You've heard your friend/family member paid "X" amount of money below the asking price for a home. What do you now expect when you go to buy? The same thing? Of course! You don't want to over pay when buying in the same market.
The problem is, one street/neighbourhood/complex/builing in one area can greatly differ from another. Even a unit in the same building...
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