If the real estate market moves more toward a buyer's market in the coming months, buyers should be poised to take advantage of what could be a fleeting opportunity. In past years, I would say that October through December was the best time of the year to purchase. However, last November saw a 5 percent increase from October which is the first time there was an increase from October to November. To prepare buyers for the possibility of a market swing in their favor, realty experts offered the following strategies for shopping in a transitional market. Do your homework.
Buyers beginning to feel a competitive edge tend to leap before they look.
Obtaining general knowledge about the home buying process and the real estate market can be a relatively easy task. A glut of information available on the Internet, from free seminars and workshops and through a vast library of real estate guide books can give buyers an edge. Study local market trends. Real estate markets are local. Designated by community, region or some larger geographic areas, buyer's markets generally tend to include high inventories, slow appreciation, flat or falling prices and more sellers than buyers.