As a Realtor, I am often asked what kind of market we are in and my response is always the same.
I say that, contrary to what you are being fed by the media, it is not a buyer’s market or a seller’s market. It is a “value-driven” market, period, end of story.
What I mean by this is that no matter the market cycle, most buyers look for the best value and sellers attempt to position their homes to attract ready, willing and able buyers–no buyer, no sale, right?
During my past 14 years, and I suspect as long as trade has existed, ready, willing, and able buyers have had to pay more than they’d like to and sellers have sold their goods for less than what they though they should.
Buyers and Sellers don’t make decisions in a vacuum, however. Reasonable people make resonable decisions. Whether those decisions were great or not, is not decided until after the fact. After all, hindsight is always 20/20.
My advice is that when buying homes purchasers should consider their primary residence as an investment in lifestyle, not a pure investment.
In the end, it is a bonus if the market swings to the sellers’ favor prior to a sale, but it is certainly not what a financial future should rest upon.
