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How Do You Know When The Real Estate Market Has Bottomed?

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By : Lisa Udy    99 or more times read
When your real estate market is on a downward slope, it makes you, as a buyer, want to wait it out. You want to get the very best deal and try to time the bottom of the market trend. You are not alone, everyone wants to buy low, and sell high. It's the basic principle behind investing in anything, not just real estate.

So how do you time the market? Unless you can predict the future, you can't time the market perfectly, no one can, but you can stay on top of market trends. The easy way to find the bottom of a real estate market is to wait until it starts to go up again, but by that time you already missed the bottom. The more complicated way to determine the bottom is to observe, and trust your real estate agents advice.

Choosing the right real estate agent is going to make your trend seeking much easier. As an agent, they must be the local real estate economist of choice. You must find an agent that knows their market through and through, especially in a market like today. This agent must be able to give you detailed historical data, current trends, and should be experienced enough to be able to predict market prices.

Getting this information is fairly easy, but most agents don't use it well enough to know a market like they should. It's very simple to find the real estate agent that is a real estate economist. These agents usually have a high inventory of listings, if not the most in a market, and they are well known by the community.

Determining the bottom of your real estate market is no easy task, and should be handled with insight and information. That insight and information is easily attainable, all you have to do is determine what real estate agent is your local markets real estate economist of choice, and get to work on determining when buying your home is the best time.
Lisa is a real estate agent with The Lisa Udy Team. Lisa has been helping buyers find Logan Utah homes for sale for the last 8 years. She specializes in Providence Utah Homes For Sale and all other areas in the Cache Valley area.

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