How is the market?
This is a question that is being posed to me quite a bit lately. I think we all hear the talk on the news about the sub-prime market meltdown followed closely on the heels of the news of the over-inflation properties along with the harsh correction of the appreciation of homes on the East and West coastal states. These occurrences have serious ramifications, but I don't foresee a market crash coming on...particularly in our local market here in Central Oklahoma.
There are still buyers. There are still sellers. The only difference is that today's buyers are more market savvy, but they are still willing to pay a fair price for a home they love.
Does this mean that sellers need to work a little harder? Yes, they do. Internet presense in marketing is more important than ever. More of today's buyers are starting their searches on the Internet and most won't even look at houses that don't feature multiple pictures and/or have a virtual tour attached to the listing. Buyers are also more educated about the purchase process and about disclosure laws as well as financing. But this is a great thing! It means they are asking the right questions and the best properties on the market are selling faster and for higher dollar, because the buyer recognizes true value the property. I believe we haven't had the disproportionate increase in property values, therefore we aren't going to feel the crash as mush as other states will.
It is my opinion that the market is only as bad as you believe it is. And, for me, the market is good right now. It is the perfect time to buy or sell a property. So get that winter things done, get pre-qualified for your mortgage, and let's go property hunting or let’s discuss about your property being on the market.!
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