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Things to consider when selling home in balanced market

Wisest move is to sell current residence before buying another
Published on May 15, 2006

For the first time in many years, experts believe we're heading toward a balanced market. A balanced market is one that favors neither buyers nor sellers. In a seller's market, buyers usually face a lot of competition. They often need to bid over the asking price and waive contingencies to get an offer accepted. In a buyer's market, there are more sellers than buyers. Listings take longer to sell; buyers can afford to be choosy. A balanced market is somewhere in between a seller's and a buyer's market. However, even in a balanced market, you'll find pockets of variability depending on supply and demand. For example, in desirable neighborhoods where inventory is low, a balanced market might exhibit characteristics of a seller's market. However, this will only be the case for well-priced listings that are in prime condition, or priced-to-sell fixer-uppers that have a lot of upside potential. In a hot seller's market, virtually everything sells. This is not the case in a more balanced mar...

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