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Hot, Normal, and Cold Markets

Hot Market

This is an extremely competitive market and is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than the asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.

Normal Market

In a normal market, there is a fairly large number of homes available and an average number of buyers. This market does not necessarily favor the buyer or the seller. A seller may not have as many offers on their home, but he or she may not be desperate to sell either. Again, it is the buyer’s responsibility to be prepared. During a normal market, the chances to negotiate are higher than in a hot market. As a buyer, you can expect to make offers at lower than the asking price and negotiate a price at least somewhat less than what the sellers are asking.

Cold Market

In a cold market, houses may be listed for more than a year and the prices of houses listed may drop considerably. This market is advantageous to the buyer. As a buyer, you have the time to make an offer that works to your best interest. It is not uncommon to low-ball and to find that sellers are accommodating to meet your needs. Keep in mind that even though this market is a great time for buyers, you do not want to lose your dream home by being unrealistic. Your goal is to get your dream home at the best possible price.

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What people are saying about George...

If you are moving locally or from out of state, do yourself the biggest favor ever and engage the services of George Kammerer. George's knowledge of the area is unsurpassed, and guided us to an area that we described we were interested in living and suited our specific needs. Since we were moving from out of state, the timing was critical that we could coordinate our time and George's to the maximum. He also is remarkably quick to respond to any email or text that you submit. He is the first realtor [we've used] that truly wants his clients to be happy! He asks questions that are relevant to finding the house that you expect to find within the price range that you specify....George does not "push" nor does he "fast talk" you into making a hasty decision. He is a very patient man and has a background that can assist you in answering questions you may have while reviewing a home. I believe my husband and I are "sort of picky" and we would rate George a 5+ in every area shown above. Ruth VonDreau
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We visited Chattanooga on 2 separate occasions to look at properties with George. He gave us 100% of his time and attention and knew exactly what we were looking for in a home. We trusted him so much in fact that we ended up purchasing a home that we never got a chance to visit in person. It came on the market just as we were leaving Chattanooga, but George visited the listing, took pictures and inspected the property. He was certain it was the home for us and we trusted him. George went above and beyond what we expected by visiting the home to make sure that it was properly maintained for 3 months while we prepared to relocate from Nevada. He even turned on the air conditioner for us once the weather warmed up to keep the house comfortable. We are happy to have met him and now be able to call him a friend Jacquie Brown
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