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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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Rhonda Montgomery Real Estate, LLC
4218 Veterans Blvd Del Rio, TX 78840
Office Phone: (830) 775-3704

Rhonda Montgomery, Broker/Owner
Cell: 830.313.0106
Rhonda@RMontgomeryRealEstate.com
Texas Real Estate Commission Information About Brokerage Services

Dawn Clayton, REALTOR
Cell: 830-719-5479
Dawn@RMontgomeryRealEstate.com
Texas Real Estate Commission Information About Brokerage Services

Cesha Hernandez, REALTOR
Cell: 830-719-3950
Cesha@RMontgomeryRealEstate.com
Texas Real Estate Commission Information About Brokerage Services

Amanda Stanford, REALTOR
Cell: 512-587-3017
Amanda@RMontgomeryRealEstate.com
Texas Real Estate Commission Information About Brokerage Services

Tony McDonald, REALTOR
Cell: 830-734-5352
Tony@RMontgomeryRealEstate.com
Texas Real Estate Commission Information About Brokerage Services

Marie Pereles, REALTOR
Cell: 830.734.1721
Marie@RMontgomeryRealEstate.com
Texas Real Estate Commission Information About Brokerage Services

Mary Riggs, REALTOR
Cell: 830.734.7206
Mary@RMontgomeryRealEstate.com
Texas Real Estate Commission Information About Brokerage Services

Reyna I. Diaz, REALTOR
Cell: 830.719.3404
Reyna@RMontgomeryRealEstate.com
Texas Real Estate Commission Information About Brokerage Services

Christina Santos, REALTOR
Cell: 830.765.6086
Christina@RMontgomeryRealEstate.com
Texas Real Estate Commission Information About Brokerage Services

Gabriel Santos, REALTOR
Cell: 830.734.0198
Gabriel@RMontgomeryRealEstate.com
Texas Real Estate Commission Information About Brokerage Services

Lisa Garcia, REALTOR
Cell: 830.734.2978
Lisa@RMontgomeryRealEstate.com
Texas Real Estate Commission Information About Brokerage Services

 

 

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