A question . . . . Buy or Sell First?
 
Imagine selling your home and having no place to go or buying a home and not being able to close because your existing one did not close.
 
A Buyer’s Market
 
When a buyer’s market exists, it can take time to sell your home. There are usually an abundance of homes on the market and not a lot of ready and able buyers. Usually in this type of market the prices are lower. It can take a little longer than usual to sell your home and usually it is not on the most favorable terms.
 
Tips for buying in a buyer’s market include making a contingency offer. You can usually make an offer contingent upon selling your present home in some cases for a certain period of time. Usually a seller will give someone approximately 60 or 90 days to sell their present home. However, many sellers are reluctant to do this because it somewhat causes other prospects a reluctance to view these properties. However, if your current home is on the open market with a professional realtor and is priced well, most sellers will consider these types of offers.
 
A Seller’s Market
 
When a seller’s market exists, most homes sell fairly easily if they are priced correctly. Usually there are not a lot of properties on the market and prices are higher. The hard part of this type of market is finding the right home and in a short time period. A short time period because there are usually a lot of buyers, homes are subject to having multiple offers and can sell fast. Sometimes homes will sell for more than the listed price. You can also try to extend the closing date, just to assure that your home will close on the scheduled time to close. Most of the time, the sale of your current home is coincided with the sale of your new home. It can be stressful, but lots of these transactions occur successfully.
 
A Balanced Market
 
When the market is balanced, the amount of homes available for sale and the amount of buyers are pretty much equal and prices are very stable.
 
The most important thing is to take your time whether you are buying or selling. You should be comfortable about your decision.