Sellers or Buyers market depends on the area

Knowing if your in a buyers or sellers market depends on the city or town you are located in at the time you are making a purchase. The amount or lack of inventory has a lot may make the price more or less negotable. If there are a shortage of houses buyers may find themself in a multiple offer situation where financing and terms of the offer matter more to the seller. Larger deposits or shorter closing times with fewer contingencies are more common. On the other hand with a large inventory and fewer offers buyers are more likely to be few to the seller with a better chance of a buyer terms more agreeable to the seller. In a sellers market prices may start edging higher unless sellers receive cash offers. Areas with large amounts of cash buyers may see larger jumps in prices. Areas with financed offers will only edge up slightly becasue appriasal guidelines demand comparable sales for the lenders to finance a loan. You'll know if your in a sellers market when you see few homes for sale in the town(s) or area(s) your looking to become an owner. If there are wtill a lot of foreclosures or short sales in your city or town you may still be in a market in a buyers market in sections or with some neighborhoods in flux even if towns surrounding you are in a sellers market. If you are a ready, willing and able seller or buyer looking to list your property or buy in central MA contact me at maureenhbrennan@aol.com