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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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Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.

Steve Carter
RE/MAX Country
1605 Grand Avenue, Suite C
Glenwood Springs, CO 81601
Phone: 970-948-6145
Office: 970-945-1215
Email: stevecarter@sopris.net
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Testimonials

“I have worked with Steve as both buyer and seller on transactions. He is energetic, knowledgeable and works with integrity. Steve knows the market and works tirelessly to meet your needs. I will use Steve's services again in the future.” Kimberly Henry
“We really enjoyed working with Steve Carter while buying our first home in Colorado. Steve was enthusiastic, honest, and worked hard to find a house to meet our needs. He knows the area, knows the market, and has a no-nonsense approach to home buying. We definitely would recommend Steve to anyone in search of a good Realtor. Matthew and Lauren McDonell” Matthew McDonell
“Steve is a go getter and a go doer. He gets the job done and does it right. He cares about people and understands their needs. Steve won't let you down. Andrea Palm-Porter
“Steve is a great broker who looks out for his clients. He has extensive experience and is a good broker to go to for advice. Steve is easy to work with and is always professional.” Shannon Kyle
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Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.