OH DANNY BOY REEF REALTY LTD

BELIZE: Buyers Market

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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 Belize. 

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