Buyer's vs. Seller's Market in Murfreesboro
The town of Murfreesboro, Tennessee weathered the recession and emerged as one of the top ten most attractive places to live in the United States. No matter whether you have decided to relocate to Murfreesboro with your family or you are looking to sell your Murfreesboro home, it’s imperative to understand and determine the real estate market where you are involved. Knowing the difference between a buyer and seller market is crucial to getting the best deal on a new home or getting the most profit on your current home. Remember that there can be several different markets within the same state. At some point you may be in a situation where you are both buying and selling a home in Murfreesboro. Our Murfreesboro movers are here to help ensure you know what the best move for you is.
A buyer’s market occurs when there is more supply than demand, meaning there are more Murfreesboro homeowners looking to sell then there are people looking to buy homes in the area. Sellers in this type of market typically must accept a lower price than their asking value when they listed their home. If the market is really oversaturated, they may have to resort to staging and incentives to get their home to sell at a price closer to the asking value. If you are looking to buy a home, a buyer’s market is ideal because you will get the best price on your new home.
As you likely have guessed, a seller’s market is the opposite of a buyer’s market. A seller’s market occurs when the demand for homes in Murfreesboro is larger than the supply. People looking for homes in Murfreesboro have more money to spend on real estate and sellers will often have multiple buyers competing to buy their property, thus driving the price up. The buyer must spend more money to get the home they want, which means the seller gets their asking price or in some cases more than their asking price. The buyer loses in this model, paying more money for less features.
The housing market is ever changing, and a buyer’s or a seller’s market doesn’t last forever. It is hard to predict what the market will do over time and change tends to happen slowly. The Murfreesboro housing market could take months or years to change. It’s important to keep the housing market in mind when you are deciding to sell or buy a home in Murfreesboro. Depending on your situation, the market could work to your benefit or work against you.
In today’s competitive market it is important for Murfreesboro home buyers to have their finances in order when they do find themselves ready to apply for a loan. While Murfreesboro sellers can take some simple steps for cosmetic changes that can provide a big return on investment, home buyers can also take steps to being smart about the market and knowing fair pricing for a home. Local Murfreesboro movers want to help you get the most out of your move, so once you purchase or sell your home, a local moving company can help make your move a smooth transition. Whether it’s moving furniture, packing and unpacking or simply transporting your belongings from one place to the next, give our team at All My Sons Moving & Storage a call. We’ll make sure your move is hassle free and affordable, no matter what the market looks like.