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    (607) 757 2100
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economy

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.

Home Sales at Highest Level in Over 9 Years

Sales of existing homes rose 1.8% in May, the highest level since early 2007 and up 4.5% since May 2015. A combination of low mortgage rates and a relatively healthy job outlook has led to elevated demand for homes. Homes sold in May were typically on the market for just 32 days-the shortest marketing time measured since the National Association of Realtors began tracking the figure in 2011.

Read more here

The Lure of Homeownership

Homeownership has always been a part of the traditional American Dream. It may be surprising to some, but even with the recent sluggish economy and changes in mortgage regulations, many are still holding on to that dream. Read the REAL Trends article below for details on consumer views of housing and using a real estate agent: