I had someone ask me a few days ago, “What's the difference in a buyer’s market and a seller’s market”? That’s a really good question because the type of market you are in has a big impact on your business.
One type of market indicates you have an abundant supply of houses which in most cases translates into good deals for a buyer. The other one indicates you have low inventory or a lot less properties for sale. In this case the seller has more leverage. Whether this is good or bad for you and your business depends on whether you are the buyer or the seller in a transaction. So exactly what's the difference between a buyer's market and a seller's market?
A Buyer’s Market
Real estate investors love it when they are in a buyer’s market. It has been a buyer’s market for the past few years. Deals were plentiful and prices were cheap. It was in fact a wholesaler’s dream. Read the rest of this entry →