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CENTURY 21 Sbarra & Wells’ Blog

What is a Seller's Market?

Spring has sprung and the real estate market is heating up! Houses are selling fast, leaving fewer homes for buyers to fight over. This is called a seller's market. Read on for a definition of this real estate term:

The seller's market is the term given to a market where the seller has the upper hand. This might happen when there are few good homes available in a certain area. It might also mean that the area is a hot one right now for potential buyers. The seller's market is one where a seller might receive a lot of interest from multiple buyers on any given listing. The seller might be able to get multiple bids and offers on a given property. These markets usually lead to higher sale prices on homes and can be difficult for interested buyers. Seller's markets are contrasted with a buyer's market, which occurs when there are very few buyers and a host of acceptable properties in an area. As a buyer, you would much rather do your bidding in a buyer's market than a seller's market, where the seller has all of the control.

If you are thinking of listing your home the time couldn't be better! Give our office a call today to speak with a dedicated agent and get your home listed during this HOT market! And if you're thinking of buying, don't wait! Our agents can start showing you properties and guide you through making an offer.

Starter Home Basics: How to Own a Home.

What comes to mind when you picture your ideal home? A pool? Tennis courts? So many rooms that people FaceTime from opposite ends of the house instead of meeting in the middle? That all sounds great―but before you can live like Beyoncé, you have to start somewhere.Trenton Hoggard, of CENTURY 21 Wright-Pace Real Estate in Jonesboro, AR gives the inside scoop on buying and owning a starter home.

TIRED OF RENTING?

Ah, renting. Landlords, roommates, the neighbors who seem to either loudly argue or purposely park in your driveway―it can get old pretty quickly. Here’s the good news, the difference between renting and buying a home may seem huge―especially when you factor things like student loans into the picture―but in reality, the costs are more similar than you would think. Having student debt is “not going to be a deal breaker” when it comes to buying a house, says Hoggard. In fact, Hoggard adds that the “majority of people that are making enough money to be considering buying a house have student debt.” So, if you’re tired of that weird smell that’s always coming from apartment 1B, know that you are likely more capable of getting out of there and into a starter home than you may think.

How Much Should You Pay for Your Home?

Your CENTURY 21® Sbarra & Wells real estate professional can help you find out what other homes have sold for in the area, and how much money you might have to put into repairs or renovations. These considerations should be a factor along with the amount you're comfortable spending.

In addition to sale prices of other comparable homes, there are several ways you can come up with a winning bid. For example: