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Hot, Normal, and Cold Markets

Hot Market

This is an extremely competitive market and is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than the asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.

Normal Market

In a normal market, there is a fairly large number of homes available and an average number of buyers. This market does not necessarily favor the buyer or the seller. A seller may not have as many offers on their home, but he or she may not be desperate to sell either. Again, it is the buyer’s responsibility to be prepared. During a normal market, the chances to negotiate are higher than in a hot market. As a buyer, you can expect to make offers at lower than the asking price and negotiate a price at least somewhat less than what the sellers are asking.

Cold Market

In a cold market, houses may be listed for more than a year and the prices of houses listed may drop considerably. This market is advantageous to the buyer. As a buyer, you have the time to make an offer that works to your best interest. It is not uncommon to low-ball and to find that sellers are accommodating to meet your needs. Keep in mind that even though this market is a great time for buyers, you do not want to lose your dream home by being unrealistic. Your goal is to get your dream home at the best possible price.

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Marilyn Messenger, REALTOR
CRS®, ABR®, GRI®,CLHMS, Broker
Direct: 508-596-3501
MarilynMessenger@realtor.com

Home Buying & Selling
Concord, Wayland, Sudbury, & West of Boston

 
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Recommendations for Marilyn Messenger

Marilyn did an excellent job in first helping me to buy my condo a few years ago. Then when it came time to sell it, she was there to provide a stellar experience once again. I can't stress enough how much it meant to me that she took charge and streamlined the whole process. She knew exactly how to price and advertise the property, and it sold before I even knew it was gone. If you want an agent that sees the sale through to closing, promptly and professionally, choose Marilyn! Andrew Bays
She knows how we feel about her high quality of work ethics, professional attitude , knowledge, ability to follow through on things, .....everything. After all, this is the SIXTH time she has successfully helped us with buying and selling houses! We hope it will be our last, but if it isn't, we will call her to represent us. Thanks Marilyn! Sally Sack
Marilyn Messenger is thoughtful, responsible, kind, genuine, very knowledgeable and one of the finest brokers I have EVER worked with. It was a real pleasure to work with Marilyn and she made my purchase of a condo at Deer Hedge Run Condominiums very very easy. I would recommend her and commend her knowledge and services! Magdaline Q.
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