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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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agent photo
Brenda Milleson, Greg Milleson
& Archie Lennon
Ann Milleson, BROKER

152 W. Main Street
New Concord, OH 43762
Phone: 740-261-9022 Fax: 740.261.9024
Email: bmillesonrealestate@yahoo.com   gmillesonrealestate@yahoo.com, archiel2010@hotmail.com

 

Testimonials Page

"A special thanks to Brenda and Greg Milleson with Homeland Realty, Inc. for helping us find the home of our dreams. We moved to Ohio from Alabama. We told Brenda what we were looking for and our price range. She nailed it! She knew exactly what we were looking for. Two very special people!" Terry & Kerri Townsend
"Thank you for all of your help in buying my beautiful home. Buying or selling a home can be very stressful and you really made it seem easy. You were positive and responsive. Your ability to jump in and make sure things got done was amazing. It was a pleasure working with you. I would recommend you highly to anyone needing an excellent realtor." Suzanne Hale
"Brenda, I simply could not have asked for a better realtor to help me with my first home buying experience! You are so knowledgeable of your profession and you were always willing to go the extra mile. You patiently answered my numerous questions and were excellent at helping me work through the process! I can't thank you enough!" Lisa Grove
"Brenda was amazing and extremely helpful. My situation was unique because my house was divided between me and my three step daughters..................Brenda went way beyond the call of duty for me and I have recommended her to all of my friends. She became a very good friend throughout of this process and I am thankful we became acquainted. She's the best!" Bonnie Thompson
"Thank you for making this process so much easier than we ever imagined. You went above and beyond any expectations we ever had. You answered all of our questions (and there were a ton) without hesitation. We could never thank you enough!" Matthew & Samantha Horstman
Thank you Brenda for giving me your full attention in selling my house. I highly recommend you to others. Your professionalism yet personal consideration for others make you the best. A sale done fast and right. Best wishes for continued success!" Darlene Lake
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