Do You Have a Real Estate Question? We’ve Got the Answers!

Common Real Estate FAQs

It’s no secret - real estate can be a difficult field to navigate, especially if you are new to the world of buying and/or selling. There are inevitably a lot of questions that will arise while you’re going through the motions of figuring out how to buy or sell your home.

Fortunately, at The Weddle Group - RE/MAX Marketing Specialists, you’ll have a real estate professional by your side every step along the way. You don’t have to walk blindly through the world of real estate - with our services, you’ll have all your questions answered, so you’ll never have to be in the dark.

“At The Weddle Group - RE/MAX Marketing Specialists, you’ll have a real estate professional by your side every step along the way.”

What does a “buyer’s market” mean?

The term "buyer's market" refers to a situation in which property prices are falling while demand is also falling. Long-term and short-term buyer demand may be affected by a number of factors, including but not limited to:

• A higher trend in interest rates

• A short-term drop in interest rates

• A high inventory of homes

• Environmental factors

What does a “seller’s market” mean?

The term “seller’s market” refers to a situation in which increased demand for properties drives up the price of homes. We are currently in a seller’s market in 2021. Common factors that affect a seller’s market may include, but are not limited to:

• A lower trend in interest rates

• A short-term spike in interest rates

• A low inventory of homes

• Economic factors

How long can I expect it to take for me to buy a home?

It all depends on who the person is. On average, you should expect buying a home to take roughly 10 to 12 weeks from start to finish, (i.e. from the beginning of your online search, getting pre-approved, looking at homes with a local real estate agent, making an offer, inspections, appraisals, to officially closing on the sale).

The average time to close on a home is 30 to 45 days after a home is chosen and an offer is accepted - that is, during “normal” market conditions. The speed with which residential properties are sold can be greatly influenced by the financial part of the sale. Homes that are purchased with 100% cash can take around 3 weeks, depending on if the buyer decides to request an inspection or an appraisal. A home inspection is highly recommended for the property no matter the financing option the customer pursues.

Buying a house in a hot market with a lot of activity may take a little longer than usual. This is because when business picks up, multiple parties engaged in the transaction tend to fall behind.

Your real estate agent can let you know what market conditions should look like at the time in which you’re looking to buy, and give you a rough estimate of how long you should expect until closing.

I’m new to the world of real estate - how can I get started?

The best thing you can do when starting your home buying or selling journey is to get set up with a local real estate agent. At The Weddle Group - RE/MAX Marketing Specialists, Darrell & Jarid Weddle are professionals in the world of real estate who can get you set up with the best foundation for beginning the process and reaching your targeted close date.

“The best thing you can do when starting your home buying or selling journey is to get set up with a real estate agent.”

For more answers to your real estate questions, don’t hesitate to contact The Weddle Group - RE/MAX Marketing Specialists today!