Making The Most of a Buyer's Market

[moreonrealestate]

Markets are always fluctuating, so it's difficult to guess when the
dropping prices will level out or start creeping up. This means that
prospective buyers have to be more vigilant when hunting for that
bargain. As the market drops, it is easier to get a lower priced
property, but make sure the house has re-sale ability.

To get a good-value lower price, buyers must also look for long-term
investment value.Some of the pointers toward long term investment
value lie outside the actual parameters of the property.

To ensure that you house will rise up in price with the market, you
need to check out several key points before buying. One is the local
community; is there population growth and new employment prospects? An
expanding population suggests more demand for housing. Growing
employment and expanding companies, or new companies moving in,
suggests more home buyers moving in.

Don't rush into the first bargain property that you see. Buying in a
low price market usually means there is lots of choice. Stick to your
list of requirements and don't grab that bigger house if you don't
really want it.

Ask why a property is on the market. How many offers has it had? Why
did they fall through? Are there any seller's clauses written into a
deal? Time is on your side because each day that passes may lower the
price. In a buyer's market, you have negotiating power.

Check out the local inventory of homes, both listed with realtors and
listed privately. If the market is flooded then it may be that it will
drop further. At the very least in this climate, you have optimum
choice and maximum bargaining power. Is the inventory of homes in your
area actually rising? If so, there may be further decline if the
market is flooded.

You can pull one last trick out of the hat in a buyer's market. If the
owners of the home you have chosen are really keen to sell, they may
offer you a little help to close the deal!

For instance if you can't make the legal costs, then rather than let
the deal fall through, the seller may offer a seller's donation. This
stops the sale price from being lowered and also stops the paperwork
needing to be re-vamped. It is a little help for you, and also gives
the seller what he wants- a 'SOLD' sign outside the house!

Article Source: http://moreonrealestate.com