Edmonton Real Estate Blog

Buying in a Buyer's Market: How to Ensure That You Find the Home of Your Dreams in Your Price Range

Just because a city is experiencing a buyer's market does not mean it will be easy to find the perfect home at the perfect price. Too many people go into a buyer's market expecting to have money thrown at them from the rooftops for the luxury of taking the seller's home off their hands. Just because there is more supply than there is demand is only a reflection of the current real estate market, it's not necessarily an accurate reflection of the type of deal a buyer is guaranteed. While it is the best time to find a home at a great price, it's important not to get too eager and make a lasting mistake. With that in mind here are some tips for buying a home in a buyer's market.

Go Into the Search with the Right Expectations

A buyer's market is the best time for a first time home owner to find a new house or condo,...

Selling in a Buyer's Market: How to Ensure That You Get the Most for Your Home when You Sell

Some people who are planning on selling their home are fortunate enough to be in a situation where they can wait for the market to fluctuate to their advantage. Unfortunately many people do not have the luxury to wait and need to sell their home as soon as possible. So what is the best way to get a good deal when selling a home in a buyer's market? Well it's going to require hard work and determination.

Invest in Making Sure the Home is Ready

Selling a home in a buyer's market may take an investment in the beginning, but the important thing is making sure the money is being spent in the right places and the right way. While major renovations may seem like they will put a home at the front of the pack, it's not always the case. A smarter use of the money is to focus on any smaller repair that may deter a buyer who won't want to make the investment themselves. The problem with costly renovations is that in some cases they tend not to be neutral and can put off more people than they...

Understanding Market Conditions: Just What is a "Buyer's Market" or "Seller's Market" Anyway?

The market is constantly changing, which is why real estate is often referred to as being on a cycle. The amount of available homes tends to shift from a seller's market to a buyer's market and back again, with one often affecting the other. There are many ways that the current economy of a geographic area can alter the property market, but what it boils down to in the simplest terms is basic 'supply and demand.'

The Simple Explanation of a Buyer's Market

When there are more people looking to sell their homes than there are people trying to buy property, it becomes a buyer's market and puts all the power into the hands of the few people trying to purchase real estate in the city. It becomes easier for them to find great houses or condos at a lower price and allows them to control the negotiation process. Buyer's markets often stem from poor economic situations in an area, when jobs are few or interest rates are high, the times when families aren't exactly rushing out to look for...