Hey guys, step three. So I'm super excited about this step, because this is the most fun step. This is actually when you actually start going out and identifying properties that you love. So we're going to start that search obviously on the internet nowadays. We're going to dig into it and find out what is going to be an important property or important property features that are going to be important to you. Sometimes that can be driven by location, features, a particular need. It could be a second home that you're looking for waterfront properties that are easy to rent. So we're going to help you identify those things, and then we're going to help you sort and quantify those so that you're looking at only the stuff that's going to be really, really impactful to your needs so that you're not caught up in stuff that's not going to be.
These are things like going out to open houses. These are things like setting up showings with your agent. These are the things that... Or your agent bringing you to model homes, if you're looking at new construction. We also specialize in new construction here in the greater Rochester area. So make sure you're taking advantage of the things from your real estate agent to help you sort and quantify.
One other thing that we do review at that initial consultation that we were talking about, is we're going to talk about the current market temperature. So a buyer's market or a seller's market. What I mean by that is typically a buyer's market is going to be a market where there's six plus months worth of active inventory available, so meaning there's a lot of stock. When there's less stock, then it becomes what we call a seller's market. That's when a seller has the advantage on the market and there's going to be less to choose for, and you're going to have to pay a little bit of a premium for that. So that's the differences between the buyer's and the seller's market.
A balanced market is going to run somewhere between four and a half months and five months, six months, worth of inventory. Anything over that, it's going to go one way or the other. And it's very much like we've all learned supply and demand drives the price and drives your ability to negotiate. So we'll help you through all of that stuff and help you get the home that you love, which is the most important part of it. We're onto the next step four next. I hope you'll stick around for those videos. Talk to you soon.