Buyer's Market
For every up there is a down. For every seller's market, there is a buyer's market. The market demands balance. It can't favor one market over another for an indefinite period of time. A buyer's market provides the opportunity for buyers to get a fair price without having to bid-up or compete with other buyers for one property. In addition, in a buyer's market buyer's can not only get a good price, but they ask for terms; cash credits, seller financing, lease options, longer escrows, contingent sales, etc..
The important issue for both buyers and sellers to understand is that market value is defined by a 'meeting of the minds' between the buyer and the seller.
Remember, think long-term hold with real estate. A quick profit in real estate is the exception, not the rule.
