(The above 20 Unit Apartment Building in Lauderdale, Florida is available as of this update on March 15, 2022) Once you’ve decided on a market, it’s time to look at inventory levels . This means finding out how many homes are for sale. Keep in mind that low levels (e.g., few houses for sale) can be a good thing, because it means it’s a seller’s market. Ideally, you want your market to have less than four months of inventory. The following are the different types of markets to look for: • Hypermarket: Less than one month of inventory; little to no competition. Listings tend to sell above asking price after receiving multiple offers. • Seller’s Market: Less than four months of inventory; low competition. You will likely sell for a good price. • Stable Market: Four to six months of inventory. Properties might take longer to sell, and could sell at or below asking (if they sell above, it probably won’t be by much). • Buyer’s Market: More than six months of inventory; lots of competition. Properties take a while to sell, and often sell below asking. I suggest that SELLERS a ELLERS and FLIPPERS focus their efforts on hypermarkets and seller’s markets, as these will bring in the most
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