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Realcomp IDX

​All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Know the difference between a Buyer's Market and a Seller's Market

What is a Buyer's Market?

A buyer’s market in real estate is a situation where there are more homes for sale than there are buyers—giving buyers the advantage.

In a buyer’s market:

  • Supply > Demand
  • Sellers compete for buyers 
  • Buyers have more choices and negotiating power 

Key Signs of a Buyer’s Market

  • Homes stay on the market longer (higher “days on market”) 
  • Prices may drop or stabilize
  • Sellers are more willing to negotiate
  • More price reductions
  • Buyers can often ask for: 
    • Closing cost assistance 
    • Repairs 
    • Contingencies 

Why It Benefits Buyers

Buyers are in a stronger position because they can:

  • Take their time choosing a home 
  • Negotiate a better price 
  • Include protections (like inspections or financing contingencies) 
  • Potentially get more home for their money

Check with your realtor to see what kind of market currently exists in your area.

What is a Seller's Market?

A seller’s market in real estate is the opposite of a buyer’s market—there are more buyers than homes available, giving sellers the advantage.

In a seller’s market:

  • Demand > Supply
  • Buyers compete with each other 
  • Sellers have more control over price and terms 

Key Signs of a Seller’s Market

  • Homes sell very quickly (low days on market) 
  • Multiple offers are common 
  • Prices tend to rise
  • Bidding wars may happen 
  • Sellers receive offers at or above asking price

Why It Benefits Sellers

Sellers are in a strong position because they can:

  • Price their home higher 
  • Choose the best offer (not just highest price, but strongest terms) 
  • Ask buyers to waive contingencies (inspection, appraisal, etc.) 
  • Sell with fewer concessions 

Check with your realtor to see what kind of market currently exists in your area.

File DBA Name with County and State

Make sure you have an LLC in place before completing this step. First file your brand name with the Texas Secretary of State. Next, visit your county clerk’s office and file a DBA (Doing Business As) for your Brand Name.

BUYING FAQ'S

Whether you're a first-time buyer or a seasoned investor who needs a refresher on how transactions work, here are some answers to the most often asked questions.

What is the first step in buying a house?
The first step in the home-buying process is to get pre-approved for a mortgage. Obtaining a lender's pre-approval letter sets the ball rolling in the correct way.
What is the average time it takes to buy a house?
Buying a home takes roughly 10 to 12 weeks from start to finish (from searching online to closing escrow). The average time to close escrow on a home is 30 to 45 days after a home is chosen and an offer is accepted (under normal market conditions). However, cash-paying home purchasers who are well-prepared have been known to purchase properties much faster.
How much should I pay an agent to assist me in purchasing a home?
The listing broker compensates buyers' agents (also known as buyer's agents) for bringing purchasers to the table. The listing broker splits the listing fee with the buyer's agent when the home is sold. As a result, buyers do not compensate their representatives.
How much capital do I need to put down as a down payment?
Pending on the type of loan: Conventional 3%-5% or more but more is usually optional. FHA 3.5% and VA 0%.
Is it necessary for me to sell my current property before purchasing a new one?
If the equity in your current home will be used to pay for the down payment on your new home, the former must be sold first.
How many houses should I look at before making a decision?
It's entirely up to you! Home buying is, without a doubt, easier today than it has ever been. The opportunity to browse for homes online and view photos before leaving the comfort of your own home has dramatically transformed the home-buying process. Convenience has never been higher. But nothing beats seeing a house in person to get a sense of how it looks and feels.
How long will it take for the seller to respond to my offer?
The timeframe in which the seller must react should be specified in written offers. It should be enough to give them twenty-four hours.

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