Deja Vu~Buying/Selling Simultaneously in a Buyer's Market vs a Seller's Market (what a world of difference!)
It's the Home and the Area
The "right" home and neighborhood is absolutely critical to long term quality of life. The right home is best sought in a Buyer's Market. Not only is the selection of homes greater, the number of competing buyers has been artificially reduced. Highly qualified buyers sit out a buyer's market due to internal fears from external forces, (e.g., friends , family, co-workers accompanied by gloomy media reports). Other capable sidelined buyers are actually sellers waiting for home prices in their neighborhood to..."bounce back" Flawed thinking at best.
The Transaction and Condition of Properties
Homes for sale are in their best condition in a Buyer's Market. Some sellers want to make their home more marketable. When that seller becomes a buyer and a seller in a Buyer's Market, they usually will have their home in good condition, as is often the case with the home they are buying. A Buyer's Market frequently allows the trading-up or trading-down Buyer full contingencies across the board! Including but not limited to, condition of the property, financing, appraisal, disclosure and "sale and close" of buyer's home contingencies!
Consumer-Protection Equals Risk-Management
Real Estate Attorneys are swamped with unhappy buyer clients after a Seller's Market. Not the case after a Buyer's Market! Slow or balanced markets as a rule produce homes in better condition that are sold with more disclosures, inspections, and contingencies. These transactions usually allow proper time for buyers to review and investigate before removing each contingency. It's hard for real estate attorneys to put their kids through college when all those events occur. The chances of these sellers hearing from unhappy buyers after close of escrow, have been greatly reduced.
Buying and Selling in a Seller's Market (all bets are off)
Removing or reducing proper procedures that are intended to facilitat