Anyone looking at Windsor properties for sale knows that we are still in a buyer’s market. This has been the case now for several years and while the market is improving at a steady pace, it looks like we still have plenty of inventory, meaning there are more houses for sale than buyers.
For those who want to buy a home, a buyer’s market is an ideal time to do so. Frankly, there is no better timing for the following reasons:
1. Lower Sales Prices: With so many homes on the market, sellers are often ready and willing to negotiate because they realize if they don’t take your offer, then may not get another one. When fewer Windsor properties for sale are selling, then prices usually are lower.
2. Incentives: Buyers are more willing to ask for concessions when making their offer in a buyer’s market as opposed to a seller’s market. For example, a buyer may request a home warranty or help with closing costs.
3. Repairs: Sellers are usually more helpful in making repairs in a buyer’s market. A seller will either make the needed repairs or offer a credit so buyer can handle at their convenience.
4. Buyers In Charge: Often, the buyer can decide when they want to close which is not usually the case in a seller’s market. A seller is more flexible when dealing with buyers during a buyer’s market, as they know their competition is fierce.
For those that are looking to unload their Windsor properties for sale, selling in a buyer’s market can be more challenging:
1. Lowball Offers: A seller can receive lowball offers because buyers believe they can get away with it in a buyer’s market.
2. Concessions: Again, buyers expect more and have no problems asking for help with closing costs or other financial issues. This obviously cuts into the profit margin of the seller.
3. Repairs: Again, buyers want to move into a home that is free of needed repairs. In a seller’s market, buyers rarely request such improvements, but now, it’s common and buyers usually expect a seller to fix them.
4. Sellers Know Buyer’s In Charge: During the negotiation process, sellers often feel the buyers are making all of the calls. For many sellers, they feel their hands are tied because their Windsor property for sale needs to be finalized.