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Hot, Normal, and Cold Markets

Hot Market

This is an extremely competitive market and is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than the asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.

Normal Market

In a normal market, there is a fairly large number of homes available and an average number of buyers. This market does not necessarily favor the buyer or the seller. A seller may not have as many offers on their home, but he or she may not be desperate to sell either. Again, it is the buyer’s responsibility to be prepared. During a normal market, the chances to negotiate are higher than in a hot market. As a buyer, you can expect to make offers at lower than the asking price and negotiate a price at least somewhat less than what the sellers are asking.

Cold Market

In a cold market, houses may be listed for more than a year and the prices of houses listed may drop considerably. This market is advantageous to the buyer. As a buyer, you have the time to make an offer that works to your best interest. It is not uncommon to low-ball and to find that sellers are accommodating to meet your needs. Keep in mind that even though this market is a great time for buyers, you do not want to lose your dream home by being unrealistic. Your goal is to get your dream home at the best possible price.

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The Realty Experts Testimonials

Michelle was a joy to work with from beginning to end. I can’t imagine anyone knowing Lincoln Hills better. She explained everything clearly, kept us posted on developments, and responded quickly to our questions. The result was better than we expected, with far less hassle. Don’t hesitate to call Michelle. Steve F.
Thank you so much for all you have done. What a trying time for our family but we pulled it all off. I truly appreciate your professionalism. You are one of the hardest working Realtors I know. Sandra B.
Michelle Cowles was far and above the best Realtor I have ever dealt with. She went to great lengths to help me with the sale of my home. She should be highly commended for her extreme effort and I would highly recommend her to everyone I know. Jill A.
After interviewing several Realtors, I chose Michelle and it was the best decision I could have made. The sale of my mother’s home turned out to be unexpectedly complicated and it was her attention to detail that helped us to discover and rectify an issue with the trust which we had no idea existed until Michelle started her thorough pre-sale paperwork. She guided my brother and I through every step of the process and worked closely with us, going above and beyond expectations, from start to finish. I would, without hesitation, highly recommend Michelle and think you should look no further if you are seeking the best realtor for the job. Thank you Michelle! Tamara
Thank you so much for everything you've done for us! Your attention to detail, knowledge, customer service and willingness to go beyond the expected and into the realm of "superb all-around agent" has made our new retirement residence possible. We hope we can continue to be personal friends now that our business is complete. Doug and Joan
Michelle Cowles is the best realtor we have ever worked with...friendly, efficient, thorough and detailed (almost to a fault!) and, most importantly, hangs in there with you until all matters are resolved and completed. Gerry & Marianne
You are amazing, Michelle. Thank you for your support through this whole transaction. Elaine
Thank you endlessly for all you have done!! Laura Ann G.
Thank you once again for doing an outstanding job selling our lovely home. You are a true professional always having our best interest in mind. We miss talking to you but wish you much success! Al and Linda
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