Buying a Home? Want to Know Your Competition?
Ben Schmidt of www.benschmidt.tv a Fredericton NB and Oromocto NB Real Estate Agent video blogs about Winter buyers, and who they are.
So big bad Winter is upon us, and the general tendency in the real estate ebbs and flows is for sales to lower. This has been true for a long time, and will continue to be true, for as long as Canada has snow. But there are still buyers in the marketplace that need to get into homes.
It got me thinking, about my buyers and who their competition is and for the most part I only believe there are two types of buyers in the marketplace right now. Serious buyers and investors. The serious buyer is someone who has a timeline. They need to be in a home right now. They have just been transferred from Moncton and need a home. Or maybe their lease is up and they don't want to take out another year lease.
The second competitor is the investor and he or she is very savvy towards the market. They know that at this time of year sellers are motivated and need to get out of their homes. These investors are looking for deals and want to get 10% and maybe even 15% under market value.
If you are selling and are not desperate you not need of the investor. If you are a serious buyer and get in competition (multi-offer), with the investor, you need not worry, as they will most likely not make as reasonable of an offer as you would.
If you have any questions about buying and selling in the Winter time or just have a questions for a Realtor in general please email me at ben.schmidt@me.com