Posted by Bartley(VA) on July 02, 2002 at 13:55:44:
I’m not sure if it’s you but if it is this is Bartley from Marianna
A sellers market is when the prices are high and the properties are in demand. a seller can offer a deal for market value and end up getting 10k - 20k more from buyers competing with each other.
A buyers market is when the prices are low and nobody is buying houses so sellers are forced to lower prices. Buyers get the houses cheaper.
In each you just have to market yourself. Get motivated sellers calling you and you will get the deals. In a buyers market don’t rely on prices to appreciate too fast. In a sellers market the property value will “usually” increase. Here in the DC area it is definately a sellers market. I have heard of sellers asking market value and getting 30k more from people who want the house that bad. Prices have been going up for the past two years that I’ve known the place.
Talk to you later dude,