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Buying Guide
What you can afford
Worksheet
Market Conditions
Pre-approved Mortgages
Elements of an Offer
How to make an Offer
Hiring a legal professional
Home Inspection
Moving Tips
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Contact Christine and Ellie:
Email:
christinejames@royallepage.ca
ellierosenblat@royallepage.ca
Phone: (204) 989-5000
Fax: (204) 989-7911
Address:
Royal LePage Dynamic R.E
1450 Corydon Avenue
Winnipeg, MB R3N0J3
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The real estate market is always changing. It helps to understand how market conditions can affect your position as a buyer.
Your Royal LePage Real Estate Professional can provide you with current real estate market conditions and explain their impact.
| Understanding Market Conditions |
| Market Conditions |
Characteristics |
Implications |
Buyer's Market:
The supply of homes on the market exceeds demand. |
High inventory of homes. Few buyers compared to availability. Homes on the market longer. Prices tend to drop. |
More time to look for a home. More negotiating leverage. |
Seller's Market:
The number of buyers wanting homes exceeds the supply or number of homes on the market. |
Smaller inventory of homes. Many buyers. Homes sell quickly. Prices usually increase. |
May have to pay more. Make decisions quickly. Conditional offers may be rejected.
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Balanced Market:
The number of homes on the market is equal to the demand or number of buyers. |
Demand equals supply. Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices generally stable. |
More relaxed atmosphere. Reasonable number of homes to choose from. |
Next: Obtain a Pre-Approved Mortgage
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