It’s summer in the Treasure Valley in Idaho: we’re hot, sweaty, and being hit with unpredictable weather swings, but there’s the promise of cooler days in just a few more weeks. This summer, for the first time in many years, we have what is called a balanced market. Both buyers and sellers have the power to negotiate due to the supply of homes starting to meet the demand. People aren’t frantically swarming to grab the few homes available and can take their time and make wise choices with their finances.
The market isn’t a true buyer’s market, but it does feel like it at times, mostly due to home sellers being skittish in their sales. Many sellers think that if they don’t give the buyers what they want, they won’t be able to sell their home. As a result of this nervous panic, the balanced market leans towards being a buyer’s market with any demands getting met by the sellers, and with the potential for sellers to lose out on the true value of their home.
If you listed your home and are moving because you need to buy something different, maybe a bigger or smaller home, and you can afford it: sell it and move on. You marry the house, not the interest rates, and you can always refinance later. Don’t feel pressured to sell your house to the first buyer who offers or anxious that you’ll miss out on selling your home if you give a counteroffer. The right buyer for your home will come. Let us at TVPM & RE know if we can help you with achieving your home-buying dreams.