March 9th, 2015 1:59 PM by Rose Tignor
The real estate market is booming in Middle Tennessee thanks to our strong economy and a number of other factors. What is a seller's market? A seller's market exists when there is a smaller amount of homes on the market versus buyers out in the market place looking. A seller's market tends to drive home prices up because buyers are desperate to obtain a house as soon as it lands on the market.
My advice? Work with an experienced agent who will let you know when properties become available immediately and help you make the right bid to secure a contract. Secondly, in a seller's market the seller has all the power. Try to limit your requests to those things absolutely imperative to securing a contract such as price, earnest money deposit, closing costs, and closing date.
Lastly, be sure to get qualified before you go out looking for homes. In a seller's market things move more quickly and sellers won't negotiate with a prospective buyer who hasn't been to the bank yet. If you fall into that category, let us help you get pre-qualified for a home in this hot seller market! We can also refer you to a number of qualified agents!
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