Getting Started – Buying a Home!!

   Understand the Market

Be an informed and sophisticated buyer. If you understand the trends that affect

The market you will be in a better position as a buyer. Ask your real estate professional about the following market conditions and trends.

Median Home Price

The median home price gives you the midpoint in the range of sales prices for a specific period. Compare with previous years to determine if prices are rising or falling.

Home Sales

Ask about the number of homes sold during a specific period. The more active the market the higher number of homes sold during peak periods.

Days on the Market

Compare the average number of days a home is on the market. A high average

could be an indication of a slow market.

There are two types of market conditions that may affect your position as a buyer. In a seller's market , the demand for housing is greater that the supply of homes. In a buyer's market , the supply of homes is greater that the demand.

From the Desk of Jim Murray

http://jamurray.mymarketingbook.com/

Cell: 410-599-2620