I get asked this question many times (daily even!) and my answer to whether or not it is a seller or buyer’s market is… depends on your local market. While that may seem like the easy answer it is also the most logical. Each local market has varying attraction pending the price range and inventory. Buyers could easily find themselves in multiple offer situations and sellers could easily find themselves overpriced and needing an adjustment in order to make the most amount of money the market will provide.

My advice would be to ask your licensed Realtor to check on the local stats for the area in which you’re looking to buy (if they haven’t already). Know that if your purchasing price range is known to be at a multiple offer level – be smart, act fast and have a knowledgeable agent to lead you. If you’re selling your home, find yourself a local agent that doesn’t sugar coat it for you. If you don’t like the market’s suggestion, instead of searching for another agent who will tell you what you want to hear try listening to the one who ethically shares the reality of today’s market. You’ll find yourself in a better position to decide if selling today is the right choice for you. Selling your residential home is the hardest side to be on in a real estate transaction. By comparison, the buy side is a party and you just have to decide if you can afford the frosting.

Ultimately, no one can tell you without doubt where the market is going. We do our best to predict what’s ahead of us yet even well-known economists end up missing the mark.

Chelsea K
Licensed Realtor with Keller Williams Classic Realty NW

It seems that every day for the past many months, we have been waiting on Congress to make decisions that will impact each and every one of us. Some are for it, some are against it, either way, we needed our leaders to make a decision – isn’t that what we’ve hired them to do? From affordable interest rates to incredible housing affordability, most real estate markets are in an ideal place, and now (after the long and unnecessary wait) Congress has decided we will continue to benefit those in need of a short sale in order to move forward with their lives. Want more info on this “fiscal cliff” everyone keeps talking about? Check out www.housingwire.com and don’t be surprised if you find yourself wanting more.

I’m here for all of your real estate needs, whether you’re looking to sell, invest or buy a home in Minnesota, we’ve got everything you’ll need from start to finish and beyond.

-CK, Licensed Realtor of Minnesota @ Keller Williams Classic Realty NW

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