Long Beach Real Estate-Long Beach Condos

LONG BEACH HOMES-LONG BEACH CONDOS

How to Get a Deal in Todays Buyers Market

Buy Low Sell High

Are YOU Waiting for the Bottom of the Market?

If you are one of the many awaiting the absolute bottom of the market to buy Long Beach Homes or Condos, it may cost you money to do so. With this in mind I prepared the above graph to assist in explaining a few critical points.

In a buyers market the buyer has the power in negotiating the deal. Aware that the market is on the decline, resulting in more inventory than available properties, the buyer can ask for and receive many seller concessions. Sellers willingly make concessions to get the property sold. Buyers can negotiate many items to sweeten an already good deal.  In a buyers market most sellers are very happy just to receive an offer. 

In a sellers market the seller has the power in negotiating the deal. Aware that the market is on the incline, coupled with more buyers than inventory available, the seller can raise the price and offer little or no concessions to the buyers desperate to find available housing. In a sellers market buyers often find themselves in a multiple offer situation, negotiating upwards to acquire a property and are generally very happy just to get an offer accepted. 

Few will actually purchase at the actual Bottom of the Real Estate Market. Smart buyers will purchase on the way down for the best deals. (See A-B) At this point in the evolution of the market, sellers will be at their most giving and prices will be at record lows. It is here that many Long Beach Buyers are going to find the very best deals.

Example: A Long Beach Home available in 2005 for $800,000, listed today at $650,000, sitting on the market for 100+ days, may be purchased with an offer of $625,000 less a negotiatied 3% in closing costs of $18,750 for a net purchase of $606,250; a very good deal for the buyer indeed. (See A-B on graph)

A few lucky buyers will actually purchase at the absolute bottom of the market, with maximum seller concessions. As the market begins to level out and turn slowly upward there will be some fantastic deals available. Sellers will be less generous with concessions even though prices at