Agent

Decoding details of buyer’s, seller’s markets

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

DEAR BOB: My wife and I are eager to buy our first home, either a modest house or perhaps a condo. I received a large year-end sales bonus from my employer, which we will use as a down payment. Recently I listened to a radio talk show where the real estate guest talked about a "buyer's market" and a "seller's market." What does that mean? --Ramon R. DEAR RAMON: Congratulations on earning that handsome sales bonus and wisely investing it as the down payment on your first home. You must be one heck of a salesperson to earn such a large sales bonus. Purchase Bob Bruss reports online. A real estate "buyer's market" means there are more houses and condos listed for sale in the community than there are qualified buyers. That means the few prospective buyers are in the driver's seat and can negotiate tough with home sellers. In most communities, there is an annual "buyer's market" between Thanksgiving and New Year's Day, sometimes extending to Super Bowl Sunday. Experienced real estate sales...