Posted 11/22/2016

When you buy your new home in the Twin Cities of Minnesota, you want to make sure you’re getting the best possible value for your money.  Understanding the difference between a buyer’s market and seller’s market can save you thousands of dollars. Especially, if you are flexible with your home purchasing or selling time frame.

Learn more below!

buyer vs seller

BUYER’S MARKET
In a buyer’s market the supply of homes is high and not as many people looking to buy. This can leave sellers sitting on homes longer and having to stage their homes to stand out from the rest and even do repairs that buyers may overlook in a seller’s market. This is the ideal situation for buyers because they can get a great deal.

SELLER’S MARKET
A seller’s market is just the opposite. The demand is homes is larger than the supply. People have more money to spend on real estate, so sellers will often see several buyers competing to buy their property, which drives up the price. This competition can lead to buyers spending more on a home than they want to.

Unfortunately, one cannot predict the market. Whether buying or selling, it is important to understand how the housing market can affect your investment long term.

Mortgages Unlimited is a local mortgage company serving not only the Twin Cities but also, South Dakota and Wisconsin. We work on the behalf of our clients ensuring they are getting the best possible loan while providing outstanding customer service.

Give one of our Mortgage Consultants a call @ 763-416-2600 if you are looking to purchase a home or refinance your existing home loan. Or you start a secure online application at www.muiapply.com.

This entry was posted in Helpful Tips, Home Mortgages by Marilyn DiCharia. Bookmark the permalink.

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