The State We’re In
The market of real estate can be hot or cold and those names are pretty fair indications of what you can expect to find there even if you aren’t that familiar with the terminology. To summarise, the cold market is one where sellers and more than buyers. The demand is lower than the supply and for that reason, you can find that many people selling homes in a cold market are willing to go lower than the asking price of the house for the sake of a sale. This is great news for the buyers because they can find a great deal on some real estate which may turn out to be a profitable investment.
On the other hand, we have the hot market which is exactly the opposite of a cold one. In the hot market, there aren’t enough houses to buy and the number of buyers is way higher than the sellers. Demand being more than the supply, there’s a lot of reasons for a house seller to raise the asking price and sell the house to the highest bidder. You may find yourself paying much more for the decent houses that really shouldn’t have cost so much.
There are times when a hot market at one point goes cold at another either. You could find yourself with a good deal in a cold market but end up in a loss at another. Places with stable prices and reasonable rates like the new condos Bellevue has up for grabs are great starting places for more stable options making the both buying and selling a relatively straightforward process as a whole. What you see is what you get and what you get is what you sell when the time for it comes so ensuring the price is consistent.