What is a Seller’s Market?
There are no better words in the English dictionary that can make a home owner do their infamous happy dance than these four little words: “it’s a seller’s market”.
So….you ask….how do you know if it really is a seller’s market and what exactly does that mean?
I’m going to bring you back to ECON 101 for a moment. Remember when your professor spent two weeks explaining the concept of supply and demand? Well, I hope you took notes.
In a seller’s market, there are fewer homes for sale with more buyers out there looking to purchase. The factors that lead to more buyers in the market could be: sustained low interest rates, high employment rate, legislative changes which make it easier to purchase a property – events and conditions that make buyers think it would be a good time to invest in a home.
In my experience, there are some advantages to the sellers in this kind of market. Typically, home prices will rise, buyers will quickly make offers and sometimes, buyers will compete for a property. This can lead to a bidding war, ultimately driving the price of the home up above expectations
Now on to your next question. How do I, as a potential seller, know when it really is a seller’s market?
How to Recognize a Seller’s Market
It’s pretty simple actually. If houses are selling quickly for their actual value or above…then, it’s a seller’s market.
But, how do you know when to list and when it will be a seller’s market?
It’s all about projection. There are a group of people sitting in a padded room that study the local market day in and day out. Very patient people, indeed.
This is the forecast that they have come up with for the Metro Atlanta Market:
They project that Metro Atlanta home sales will rise over 10% in 2015.
This is my forecast: Rates are lower than ever and homebuyers are out looking. Despite the cold…..getting your home listed this winter, before everybody starts listing in Spring time, will give you an advantage.
As I always say, “an informed homeowner makes a happy home seller.”
Here’s to being informed!
Why Use AMPI?
AMPI is the national association of real estate professionals that have, since 1956, gathered under laws and codes of ethics and conduct to create a reliable, trustworthy an efficient real estate environment in Mexico.
AMPI consists of separate autonomous sections all throughout the nation, as well as more than 4,000 associates and affiliates.
Each section is independent and has its own board of directors, only surpassed by a national board of directors comprised of twenty associates from all over the republic.
Developed over the years with the
input and knowledge of its members, AMPI is much more than just a collection of offices.
AMPI has been a solid and recognized institution in Mexico for the past 27 years. It was originally established in 1956 and was consolidated in 1980.
AMPI is currently represented in all the principle cities and regions of Mexico stretching from Tijuana to Cancun.
The Riviera Nayarita, Vallarta and Compostela chapters of AMPI are dedicated to promote the best practices in real estate by providing its members with education to reinforce the standards of ethics that give our industry the credibility which our clients deserve.
AMPI is committed to giving our membership access to a multiple listing service that forms the platform from which our industry can expand locally and into other markets while giving our members precise and up to date information that is vital to continuous improvement and growth.