MOTIVATING CIRCUSTANCES

Whether it is a buyer's market or a seller's market, there are personal factors at work that usually play a primary role in any home sale. Both buyers and sellers should bear this in mind as they enter the real estate market. While it is certainly necessary for buyer's and seller's to have a good idea of market conditions, they should not necessarily see this macroscopic view as the definitive and overriding factor guiding their strategies. Divorce, death, or a job transfer may prompt the sale of a home more quickly that one might otherwise think, research shows that a homeowner's motivation to sell affects both selling price and how long a house stays on the market. Thus, a highly motivated seller who has already purchased another home may be more eager to sell that the market may otherwise indicate.