BELIZE: Buyers Market
There are two types of markets in the real estate
market and wherever you may be living or wherever you may be considering to move to, the market will always swing towards one of the two directions or sometimes have a little
of both. To understand what is a Buyer’s
Market we must know that most real estate practitioners consider a typical market to be one in which
homes take an average of six months to sell. In this way realtors keep record
of this number by keeping up with the days on the market of every home listed
and sold. So that means that on the MLS there are likely
to be at least 6 months worth of homes on hand to sell for the number of buyers in the
market. If that number increases above
six months inventory on hand, then the market is geared towards a buyer’s
market. And if that number falls below
then it shifts to a seller’s market.
In other words a buyer’s market is one in which there are
too many homes on the market for the number of buyers where the homes take
longer to sell and in which prices fall.
As homes become more competitive buyers realize that their interest is
at a premium and do increase their demands to sellers. For example any personal property that is not
permanently attached to the real property would then become a bargaining chip
for the buyer.
Certainly one side of the market will never stay on top
forever and may in fact turn on a dime as areas that remain depressed for a
period of time can make a comeback as lower prices stimulate reinvestment.
Belize is currently identified as a Buyer’s Market and Reef
Realty Ltd will be your professional guide to making the right real estate
transaction decisions. We look forward
to helping you through your transition of relocating, retiring, or investing in