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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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Pine Point Realty
1226 Lincoln Street
Rhinelander, WI 54501
Phone: 715-365-6000
 

Testimonials

"When Our bank turned us down for our home loan, we felt that all hope was lost, but Carol Shattuck and Kathy Dolch came through with another lender that was able to get us into our first home." Terry H.
I had met with Kathy a month earlier to discuss my situation and possible sale of my home. Once I knew for sure that I was going to list, I was comfortable with Kathy's input, so I signed up with Pine Point. Julie H.
Kathy and her team go above and beyond to make sure your experience is amazing. Kathy was amazing and made sure we knew what we were looking at, and we should know, we have been working with her for 2 years to find the perfect home. M. Wilmot
As a first-time home owner, Kathy was excellent to work with! The home I purchased was a foreclosure and there were lots of hoops to jump through, but Kathy was very patient and optimistic. Deb H.
Ashlei Highfill was so patient and kind. She always answered every question we had right away. She really showed us some great properties and ultimately found us our perfect starter home. Would highly recommend Ashlei Highfill to anyone looking to purchase a home. Definitely will not be disappointed! Laina Miller , Rhinelander
We moved from out of state and were unable to look at homes in person and Ashlei went out of her way to look at homes for us, she took many pictures and was extremely honest with us, which was what I valued most. She was very punctual at getting back to me, and made my first home purchase an enjoyable one. Kempkens - Rhinelander
I trust Pine Point. Sharon worked well with us and kept us informed. Virginia Taft
My experience with Ashlei was beyond excellent. Her excellence in keeping me informed at all times was very important to me and she went above and beyond my expectations. She is most professional and advised me of her opinions when asked. I would definitely recommend Ashlei to friends, family, or associates who are in the market for a real estate professional. David Dohe
We want to thank and express our appreciation to Ashlei and Team Dolch for all the help and support through the process of buying our home. We've made new friends at Pine Point Realty!! C. McDonald
Ashlei was the greatest!! I could not have asked for a better, more genuine person to help us with our purchase. You have a wonderful agent on your hands! Al & Kathy Reinke
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